Twitter layoffs continue: Elon Musk-led company fires 50 more employees amid relentless cost cuts
1 min read . Updated: 26 Feb 2023, 03:51 PM IST
PremiumThe latest job cuts reportedly impacted multiple engineering teams - including those supporting advertising technology, the main Twitter app as well as technical infrastructure to keep Twitter's systems up and running.
Twitter undertook yet another round of job cuts this week with around 50 people being laid off on Saturday. With this, the company's staff has shrunk by at least 70% since Elon Musk's takeover. In November last year the social media giant had laid off half its workforce as four advertisers pulled spending.
According to a report by The Information, the job cuts impacted multiple engineering teams - including those supporting advertising technology, the main Twitter app as well as technical infrastructure to keep Twitter's systems up and running.
While exact numbers are not available, reports suggest that Twitter now has a mere 2,000 employees.
Since Musk's takeover in October last year, the company has implemented a slew of cost-cutting measures as it looks to offset a plunge in revenue. Around 3,700 employees were laid off in early November, with hundreds of others subsequently resigning. Despite assurances that there would be no further layoffs, the company had ordered at least a dozen more job cuts in Dublin and Singapore offices last month.
Within India, Twitter has now closed two of its three offices and fired more than 90% of just over 200 of its staff members.
Musk had noted last year that the service was experiencing a "massive drop in revenue" as advertisers pulled spending amid concerns about content moderation.
Following the layoffs, dozens of former Twitter employees had accused the company of various legal violations stemming from Musk's takeover. The allegations included targeting women for layoffs and failing to pay promised severance. Twitter is also facing at least three complaints filed with a US labor board claiming workers were fired for criticizing the company, attempting to organize a strike, and other conduct protected by federal labor law.
(With inputs from agencies)