According to The Information, Elon Musk’s Twitter Inc. conducted another round of layoffs on Saturday, resulting in the layoff of at least 50 employees. This is reportedly the eighth time the social media company has gone through this procedure since Musk took over in late October.
Multiple engineering teams were affected by the layoffs, including those responsible for advertising technology, the main Twitter app, and technical infrastructure to keep Twitter’s systems running.
Individuals with direct experience and knowledge of the situation are quoted in the report. Twitter has not yet responded to the news.
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The job cuts were reportedly implemented to offset a revenue decline since Musk’s takeover and to further reduce a staff that had already shrunk by at least 70% to around 2,000 people.
Musk laid off approximately 3,700 employees in November as part of a cost-cutting measure after acquiring the company for $44 billion.
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Musk previously admitted that the service was experiencing a “massive drop in revenue” as advertisers reduced spending due to concerns about content moderation.