Home Business Twitter layoffs 200 current employees

Twitter layoffs 200 current employees

0
Twitter layoffs 200 current employees

Twitter Inc. has reportedly laid off approximately 200 employees, constituting around 10% of its workforce, as part of its ongoing restructuring efforts since Elon Musk assumed control of the platform last October, as per a report by the New York Times on Sunday.

The job cuts, which occurred on Saturday night, primarily affected product managers, data scientists, and engineers specializing in machine learning and site reliability, crucial for maintaining Twitter’s various features online. The layoffs come amid a broader reorganization aimed at streamlining operations and improving efficiency.

Twitter has yet to respond to requests for comment regarding the reported layoffs. The company’s current active workforce stands at approximately 2,300 employees, as indicated by Musk in a previous statement.

This latest round of job cuts follows a significant reduction in November, where approximately 3,700 employees were laid off as part of cost-cutting measures initiated by Musk following his acquisition of the company for $44 billion. Musk cited a substantial decline in revenue at the time, attributed to advertisers withdrawing spending due to concerns about content moderation.

To mitigate revenue challenges, Twitter has introduced initiatives such as revenue sharing with content creators, aiming to diversify its income streams.

Earlier in the day, The Information reported that Twitter had also laid off several dozen employees on Saturday, in response to a sharp decline in revenue. These measures underscore Twitter’s ongoing efforts to adapt to evolving market dynamics and ensure long-term sustainability amidst changing consumer behaviors and competitive pressures.