Elon Musk says he had "no choice" but to cull Twitter staff.
Half of the social media platform's workers lost their jobs on Friday (04.11.22) but Musk has claimed that the action was necessary due to the company's financial situation.
The world's richest man tweeted: "Regarding Twitter's reduction in force, unfortunately there is no choice when the company is losing over $4m a day.
"Everyone exited was offered three months of severance, which is 50 per cent more than legally required."
Twitter's head of safety and integrity Yoel Roth has confirmed that the layoffs have affected 50 per cent of the company - including 15 per cent of the trust and safety department.
Musk, 51, insists that the platform's commitment to moderation remains "absolutely unchallenged".
Meanwhile, US President Joe Biden has voiced concerns about the Tesla tycoon's $44 billion buyout of the company.
He said: "Elon Musk goes out and buys an outfit that sends - that spews lies all across the world... How do we expect kids to be able to understand what is at stake?"
Meanwhile, it has been revealed that rapper Sean 'Diddy' Combs helped Musk complete the Twitter takeover.
Sources told TMZ that Diddy invested over $10 million into Elon's bid because of his belief in the businessman's vision for the app.
The insider explained the 53-year-old rap mogul makes his investment decisions according to getting a "seat at the table to represent".
Other investors are rumoured to include Twitter co-founder Jack Dorsey and Saudi Arabia's Prince Alwaleed bin Talal.