Twitter lays off at least 50 in ruthless cost-cutting, The Information reports

Feb. 26 (Reuters) – Elon Musk’s Twitter Inc laid off dozens of employees on Saturday in what is at least the eighth round of job cuts since Musk took over the social network in late October, the information reported.

The job cuts affected multiple engineering teams, including those supporting ad technology, the main Twitter app and technical infrastructure to keep Twitter’s systems running, the report said in the US technology-focused publication early Sunday, citing people with direct knowledge. of matter.

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

In early November, Twitter laid off about 3,700 employees as a cost-cutting measure by Musk, who acquired the company for $44 billion.

The information stated that the latest job cuts are intended to offset a decline in earnings following the Musk acquisition and to further reduce the workforce that had shrunk by at least 70% to about 2,000.

Musk said in November that the service experienced a “massive drop in revenue” as advertisers pulled back spending over content moderation concerns.

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Reporting by Maria Ponnezhath in Bengaluru; Edited by Kim Coghill

Our Standards: The Thomson Reuters Principles of Trust.


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