Last Update: January 19, 2023, 08:12 AM IST
Twitter’s revenue fell nearly 35% to $1.025 billion in the fourth quarter.
Twitter Inc plans to lay off 50 employees 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.
Twitter Inc plans to lay off 50 employees 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.
layoffs, which come six weeks after the top boss Elon Musk Employees have reportedly been told that there will be no further layoffs, which could reduce the company’s workforce to less than 2,000, according to reports.
Twitter did not immediately respond to a Reuters request for comment.
Musk took over Twitter in October and quickly made a number of product and organizational changes. The company rolled out Twitter-verified blue check-mark as a paid service and also laid off around 50% of its staff.
Musk said in November that Twitter was facing a “precipitous drop in revenue” due to advertisers pulling out.
Twitter’s revenue fell nearly 35% to $1.025 billion for the fourth quarter, a top advertising executive revealed at a staff meeting, the online publication reported on Wednesday.
The staff cuts so far, including those working in the content moderation division, have raised fears of a surge in hate speech on the platform.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)