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 employees in the social media site’s product division in the coming weeks, news site Insider reported Wednesday, citing two people familiar with the company.
The layoffs, which come six weeks after top boss Elon Musk reportedly told employees there would be no further cuts, could reduce the company’s workforce to under 2,000, according to the report.
Twitter did not immediately respond to a Portal request for comment.
Musk took over Twitter in October and quickly implemented a series of product and organizational changes. The company introduced the Twitter-verified blue tick as a paid service and also laid off about 50% of the workforce.
Musk said in November that Twitter was facing a “massive drop in revenue” as advertisers pulled out.
Twitter’s fourth-quarter revenue fell about 35% to $1.025 billion, a top advertising executive said at a staff meeting with online publication The Information on Wednesday.
Previous staff cuts, which have included staff in the content moderation department, have fueled fears of a rise in hate speech on the platform.
(Except for the headline, this story was not edited by NDTV staff and was published by a syndicated feed.)
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