Elon Musk mulls axing severance pay for laid off workers and has stopped paying rent at Twitter offices: NYT
Elon Musk (AFP)

A new report from the New York Times claims that Twitter CEO Elon Musk is making a number of cost-cutting moves at the social media company and may not even pay out severance packages to workers whom he laid off earlier this year.

Although the company had previously committed to pay out two months pay and one month's severance pay to laid off employees, Musk has been mulling rescinding that pledge, even though he knows it would embroil the company in costly labor lawsuits.

"Mr. Musk’s team is now reconsidering whether it should pay some of those months... or just face lawsuits from disgruntled former employees," the Times reports. "Many former employees still have not received any paperwork formalizing their separation from Twitter."

In addition to all this, the Times reports that Musk has even stopped paying rent for Twitter's office space.

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Twitter has not paid rent for its San Francisco headquarters or any of its global offices for weeks," the paper writes. "Twitter has also refused to pay a $197,725 bill for private charter flights made the week of Mr. Musk’s takeover, according to a copy of a lawsuit filed in New Hampshire District Court."

Musk, who made his name as a pioneering businessman involved in electric cars and private space flight, decided to buy Twitter earlier this year as part of his effort to combat what he calls the "woke mind virus."