Big tech firms can sack more employees to boost productivity: Elon Musk

Outgoing Twitter CEO Elon Musk has said that Silicon Valley companies can afford to cut more workforce without affecting productivity.

Musk slashed over 80 per cent of the Twitter staff in October-November last year as he took over after acquiring the platform for $44 billion.

Speaking virtually at The Wall Street Journal’s summit in London, Musk said there were a lot of people at Twitter that didn’t seem to have a lot of value.

“I think that’s true at many Silicon Valley companies. I think there is the possibility for significant cuts at other companies without affecting their productivity, in fact, increasing their productivity,” he was quoted as saying in the report.