Soon after the buyout, Elon Musk terminated the business’s previous chief executive and other senior leaders. Twitter also immediately cut close to 3,700 staff members via email in an attempt to trim expenses once the acquisition closed in late October.

In a recent tweet, tech mogul and entrepreneur Elon Musk announced that he would be cutting back on his time spent on Twitter, and handing over the “reigns” to someone else. This comes as a surprise to many, as Musk is known for his active presence on the social media platform.

“There’s an initial burst of activity post-acquisition necessary to reorganize the business,” Musk said in an official statement with the news agency Reuters. “But, then, I expect to reduce my time at Twitter,” Musk said. Musk explained that Tesla engineers were assisting with evaluating Twitter’s engineering teams, but he also said it was voluntary and after hours.

Twitter is in need of a major restructuring, according to tech mogul Elon Musk.

In his tweet, Musk said that he would be “reducing [his] time spent on Twitter” and that he would be handing over the “reigns” to someone else. He did not elaborate on who this person would be or what they would be responsible for.

Elon Musk, his first two weeks as Twitter’s owner heralded by a high level of change and disarray – has stated that he is hoping for a reorganization procedure, Reuters reported. Soon after the acquisition, Elon Musk fired the company’s former chief executive officer and other senior executives.

Musk’s takeover of Twitter has been met with mixed reactions. Some people are thrilled that he is using his platform to reach out to people and share his thoughts on various topics. Others are concerned that his presence on Twitter will only add to the noise and further clog up the feed with useless information.

Twitter also excised close to 3,700 employees by mail in mid-October, also known as cost-cutting after the acquisition; it closed in late October. Minimizing Twitter’s layoffs, unfortunately, it has no alternative, since the company is losing in excess of $4 million a day. Musk tweeted that day over the lay-offs.