January 31, 2023

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Elon Musk is laying off more Twitter employees in the coming weeks: report

Musk said in November that Twitter was facing a “massive drop in revenue” as advertisers pulled out.

San Francisco:

Twitter Inc plans to lay off 50 workers in the social networking site’s product division in the coming weeks, news website Insider reported Wednesday, citing two people familiar with the company.

According to the report, the layoffs, which come six weeks after President Elon Musk told employees there would be no more cuts, could reduce the company’s headcount to fewer than 2,000 employees.

Twitter did not immediately respond to a Reuters request for comment.

Musk acquired Twitter in October and moved quickly through a number of organizational and product changes. The company launched Twitter’s verified blue checkmark as a paid service and has also laid off about 50% of employees.

Musk said in November that Twitter was facing a “massive drop in revenue” as advertisers pulled out.

A senior advertising executive revealed at a staff meeting, The Information reported Wednesday that Twitter’s revenue for the fourth quarter fell about 35% to $1.025 billion.

The staffing cuts so far, which also included staff working in the content moderation department, have raised concerns of a rise in hate speech on the platform.

(Except for the headline, this story was not edited by the NDTV staff and was published from a syndicated feed.)

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