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lon Musk’s plans for Twitter are coming into view – with the billionaire set to slash 3,700 jobs by the end of this week and finalize a plan to sell subscription blue checks for $8 a month by the start of next week.
Musk, 51, has been pitching his idea for a blue check fee since he bought the company, claiming it will end the current ‘lords and peasants’ system on the social media platform.
The ‘badges’ could go live as soon as Monday, Bloomberg reported, with current blue check holders receiving a ‘grace period’ of multiple months before being forced to either pay or lose it.
In addition, by the end of this week, Musk plans to eliminate about 3,700 employees and end Twitter’s ‘work from anywhere’ policy in an attempt to drive down costs.
Musk had wavered throughout his attempt to buy Twitter on how many positions he would eliminate, originally saying as many as 75 percent of the company’s 7,500 workers before telling employees last week, with some reporting suggesting it would be 25 percent.
The 3,700 cuts would amount to about half the staff and would see them follow out five high-level executives who have resigned in the past week.
Musk originally suggested $20 a month for verification but appeared to lower the cost after an exchange earlier this week with horror writer Stephen King, where he offered him a discount.