Elon Musk to cut Twitter's workforce in half

Twitter's new owner Elon Musk will look to cut roughly 3,700 jobs at the social media giant as part of an effort to cut costs.

According to Bloomberg, Musk wants to lay off half of the company's workforce and will inform those affected on Friday.

It was also reported that Musk will reverse Twitter's existing work-from-anywhere policy and, instead, require employees to work from its offices.

Earlier, Musk denied that he was planning to fire staff before 1 November in order to avoid fulfilling stock grants due to them on the day, as reported by the New York Times.

Reporting by Iain Gilbert at Sharecast.com