Following his $44 billion acquisition, Elon Musk intends to cut about 3,700 jobs at Twitter Inc., or half of the social media company's workforce, in an effort to reduce costs. 

According to the people, who asked for anonymity to discuss private arrangements, Twitter's new owner intends to inform impacted employees on Friday. The remaining staff will be asked to report to the company's offices, and Musk also plans to reverse the company's current work-from-anywhere policy, though some exceptions may be granted, according to the sources.

The sources stated that as Musk and a committee of advisers explored other alternatives for job reductions and other policy changes at San Francisco-based Twitter, the specifics of the personnel reduction might yet change. Two of the individuals claimed that in one scenario, laid-off workers would be given severance pay equivalent to 60 days.

One of the final pre-Musk C-suite employees to leave the firm after the layoffs were resolved was Twitter Chief Accounting Officer Robert Kaiden, according to sources with knowledge of the situation. An inquiry for comment was not immediately answered by a Twitter spokeswoman.

Musk is under pressure to cut back on a company's expenses since he feels like he overpaid them. The billionaire chose to pay $54.20 per share in April, just as markets were declining. He then tried for months to get out of the agreement by arguing that the company had misled him about the prevalence of bogus accounts.

Employees at Twitter have been prepared for layoffs since before Musk took over and swiftly fired a significant section of the top management team, including Chief Executive Officer Parag Agrawal, Chief Financial Officer Ned Segal, Senior Legal Staffers Vijaya Gadde and Sean Edgett.

In the days that followed, chief customer officer Sarah Personette, vice president of global client solutions Jean-Philippe Maheu, and chief marketing officer Leslie Berland all left their positions.

Musk identified himself on social media as 'Chief Twit.' He would become the acting CEO, according to a report from Bloomberg. Additionally, he declared the board to be 'just temporary,' abolished it, and named himself the corporation's sole director.

According to people with knowledge of the matter, several employees holding director and vice president roles were fired over the weekend. They stated that it was demanded of other leaders to generate lists of team members who might be let go.

Last week, a source with knowledge of the matter alleged that senior members of the product teams had been told to strive for a 50% headcount reduction. At Tesla Inc., the automaker also helmed by Musk, engineers and directors reportedly looked over the names.