Twitter Lays Off Around 10 Percent of Its Workforce in Latest Round of Job Cuts: Report

Twitter has laid off at least 200 employees, or about 10 percent of its workforce, the New York Times reported late on Sunday, in its latest round of job cuts since Elon Musk took over the micro-blogging site last October.

The layoffs on Saturday night impacted product managers, data scientists, and engineers who worked on machine learning and site reliability, which helps keep Twitter’s various features online, the NYT report said, citing people familiar with the matter.

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

The company has a headcount of about 2,300 active employees, according to Elon Musk last month.

The latest job cuts follow a mass layoff in early November, when Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who had acquired the company for $44 billion (roughly Rs. 3,64,720 crore).

Musk said in November that the service was experiencing a “massive drop in revenue” as advertisers pulled spending amid concerns about content moderation.

Twitter recently started sharing revenue from advertisements with some of its content creators.

Earlier in the day, The Information reported that the social media platform laid off dozens of employees on Saturday, aiming to offset a plunge in revenue.

Earlier this month, Twitter closed two of its three offices in India after the company had fired more than 90 percent of just over 200 of its staff in India last year.

The social media company reportedly shut down offices in New Delhi and Mumbai but continued to operate its office in the southern tech hub of Bengaluru which mostly houses engineers.

 Thomson Reuters 2023

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