Musk said in November that Twitter is facing a “massive revenue drop” as advertisers give up.
San Francisco:
Twitter Inc plans to lay off 50 workers in the social media site’s product division in the coming weeks, news site Insider reported on Wednesday, citing two people familiar with the company.
According to the report, the layoffs come six weeks after top boss Elon Musk told employees there would be no further cuts, which could reduce the company’s headcount to less than 2,000.
Twitter did not immediately respond to Reuters’ request for comment.
Musk took over Twitter in October and quickly made a number of product and organizational changes. The company rolled out the Blue checkmark which was verified by Twitter as a paid service and also laid off about 50% of the staff.
Musk said in November that Twitter is facing a “massive revenue drop” as advertisers give up.
Twitter’s revenue for the fourth quarter fell about 35% to $1.025 billion, a top advertising executive revealed at a staff meeting, online publication The Information reported Wednesday.
The staff cuts to date, including those working in content moderation, have raised concerns about an increase in hate speech on the platform.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
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