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Twitter Report: Twitter Plans More Layoffs, Weeks After Elon Musk Said No More

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Twitter

Twitter

Twitter Inc plans to lay off 50 employees in the social media site’s product division in the coming weeks, news site Insider said on Wednesday, citing two people familiar with the firm.

The layoffs, which come six weeks after top boss Elon Musk reportedly told staff that there would not be further retrenchment, could decrease the firm’s headcount to under 2,000, according to the report.

Twitter waited to react to a Reuters request for comment. Musk took over Twitter in October and swiftly moved through several product and organizational changes. The firm rolled out the Twitter-verified Blue check-mark as a paid assistant and laid off about 50% of staff.

Musk had said in November that Twitter was facing “a massive drop in revenue” as advertisers decreased.

Twitter’s revenue for the fourth quarter fell about 35% to $1.025 billion, a top ad executive reported at a staff meeting, an online publication, the Information reported on Wednesday.

Staff cuts, including workers in the content moderation division, have stoked fears of a surge in hate speech on the outlet.

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