Exclusive Cash Offers up to ₹50 lakhs
Outskill Gea AI
HomeNewsWorldTwitter plans further layoffs: Report

Twitter plans further layoffs: Report

The layoffs, which come six weeks after top boss Elon Musk reportedly told staff that there would not be further retrenchment, could reduce the company's headcount to under 2,000, according to the report.

January 19, 2023 / 06:10 IST
Representative image

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

The layoffs, which come six weeks after top boss Elon Musk reportedly told staff that there would not be further retrenchment, could reduce the company's headcount to under 2,000, according to the report.

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

Musk took over Twitter in October and swiftly moved through a number of product and organizational changes. The company rolled out Twitter-verified Blue check-mark as a paid service and also laid off about 50% staff.

Musk had said in November that Twitter was facing "a massive drop in revenue" as advertisers dropped out.

Twitter's revenue for the fourth quarter fell about 35% to $1.025 billion, a top ad executive revealed at a staff meeting, online publication the Information reported on Wednesday.

Staff cuts so far, which also included employees working in the content moderation division, have stoked fears of a surge in hate speech on the platform.

Reuters
first published: Jan 19, 2023 06:10 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347
CloseGen AI Masterclass