Speaking to Twitter employees, Musk said he had no plans to cut 75 per cent of staff after the acquisition was completed.

CTOnews.com, Oct. 27 (Xinhua)-- Elon Elon Musk told Twitter employees on Wednesday that he doesn't plan to lay off 75 percent of his employees after taking over Twitter, according to people familiar with the matter.

CTOnews.com learned that in April, Musk offered to buy Twitter for $54.20 a share. Mr. Musk told partners who helped raise money that he planned to complete the acquisition of Twitter by Friday, people familiar with the matter said Tuesday.

Earlier, Mr Musk was reported to have told potential investors that he planned to fire nearly 75 per cent of Twitter's staff and cut the company's staff from 7500 to just over 2000. However, Musk denied the figure in a speech to employees at Twitter's San Francisco office, according to people familiar with the matter.

As part of the acquisition, Musk is expected to continue to lay off staff, causing anxiety among employees, Bloomberg said. Earlier today, Musk released a video of himself walking into the office with a kitchen sink and changed his Twitter profile to "Chief Twit".