50 employees from the product section of social media sites will be let go by Twitter Inc. in the upcoming weeks.
Twitter to lay-off more employees
Although Elon Musk had previously assured his team that there wouldn’t be any further layoffs, new scheduled layoffs might bring the company’s number down to under 2000.
Despite Elon Musk’s previous assurances to his workers that there wouldn’t be any more layoffs, however new planned layoffs might reduce the company’s headcount to fewer than 2000.
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Elon Musk acquires Twitter and institute changes
Musk acquired Twitter in October and instituted major product and organizational changes. However, the company had made the Twitter verified Blue Check mark a paid service and laid off roughly half of its employees.
Furthermore, Musk revealed in November that it was facing a significant drop in advertising revenue and advertisers and had moved on.
According to a top advertising executive, Twitter’s revenue for the fourth quarter fell approximately 35% to $ 1.025 billion.
There have been concerns about an increase in hate speech on the platform, and staff cuts have included employees in the content moderation division.
Also Read: Twitter launches new business entity verification initiative
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