 "Twitter fires at least 50 in relentless cut on costs, says report")
Elon Musk’s Twitter laid off dozens of employees on Saturday in what is the eighth round of job cuts since Musk tookover in late October, The Information reported.
The job cuts impacted multiple engineering teams, including those supporting advertising technology, the main Twitter app as well as technical infrastructure to keep Twitter’s systems up and running, the report said on Sunday, citing sources.
Twitter did not respond to request for a comment.
The Information reported that the latest job cuts aim to offset a plunge in revenue following Musk’s takeover and further whittle down a staff that had shrunk by at least 70 per cent to roughly 2,000. Musk in November said that the service was experiencing a “massive drop in revenue” as advertisers pulled spending amid concerns about content moderation.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%