Twitter: No mass layoffs, will restructure business

The personal social media company Twitter said on Wednesday local time that the company will not conduct large-scale layoffs, but may continue to restructure its business. A day earlier, Twitter sued Elon Musk, the chief executive of U.S. electric car maker Tesla, for violating a deal to buy Twitter for $44 billion and asked a Delaware court to order Musk to pay for every completed acquisition at a price of $54.20.

Twitter also said on Wednesday that the company had sent a formal request to Musk for approval of two employee retention plans Twitter made on a case-by-case basis in June, but Musk has yet to agree.

Twitter employees are generally concerned about Musk taking over the company, as Musk has said it will lay off workers and cut other operating costs, and has also claimed to reduce content moderation and limit employees to work remotely.

In May, Twitter said it was suspending hiring and reviewing all job offers that had been issued to determine whether they "should be withdrawn."