While pitching the acquisition to investors, Elon Musk said the planned to get rid of nearly three-quarters of Twitter's workers, lopping its ranks to just over 2,000 employee from 7,000, the Washington Post reported.
Bloomberg reported that the Biden administation was weighting a national security reviews of Musk's $44 billion takeover of Twitter, in part because of Musk's investment consortium, which includes Price Alwaleed bin Talal of Saudi Arabia and Qatar's soverign wealth fund.
Biden administration official are also concerned about Musk's favorable public posture towards Russian President Vladimir Putin, Bloomberg reported.
While pitching the acquisition to investors, Musk said he planed to get rid of nearly three-quarters officials of Twitter's workers, lopping its ranks to just over 2,000 employees from 7,000, the Post reported.
Also, the Washington post reported that Musk plans deep staff cuts at Twitter it if his purchase goes through.
The on again, off deal to marge Twitter into Musk's empire could close as soon as next week.
Twitter had filed a lawsuit to hold Musk to the terms of the takeover deal he inked in April, even though Musk tried to get out of it.
A US judge recently suspended litigation in the saga after Musk express a change of heart, giving the parties until October 28 to finalize the megadeal.
Wedbush analysts Dan lves described the reported 75 percent Twitter staff cut as "way too" aggressive, adding that "Musk cannot cut his way to growth with Twitter.
While acknowledge lingering questions about financing, lvs predicated the Twitter deal " gets done next week."
A third factor weighing on Twitter shares Friday was a dismal earnings report from Snapchat parent Snap, which reported a quarterly loss of $360 million on weakening online advertising revenue.
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