Twitter pays €12.7m in Irish redundancy costs since Musk takeover

Elon Musk acquired Twitter's global business on October 28th 2022 in a deal worth $44bn (€42.6bn).

The Irish operation of Elon Musk’s social media giant, X, formerly Twitter has incurred redundancy costs of €12.7m at its Dublin base since his acquisition last year.

Twitter established its European headquarters in Ireland in 2011 and according to new accounts filed by Twitter International Unlimited Company, the company “has taken significant steps to reduce its cost base and improve its financial performance, including workforce reduction and discontinuing the use of office space that is no longer required". They state that "these actions are expected to lower the company's expenses going forward".