Here are your FOX Business headlines.
Elon Musk’s Twitter carried out another round of layoffs this weekend, reportedly laying off 50 employees in a bid to further cut the company’s costs.
According to The Information, the layoff hit engineering teams related to advertising and the Twitter app. Musk has fired thousands of Twitter employees since he took control of the company in October.
Twitter did not immediately respond to a request for comment from Fox News Digital.
Musk has complained of declining revenue since Twitter’s acquisition as many advertisers exit the platform.
ELON MUSK INTRODUCES MULTICOLOR VERIFICATION CHECKS
Billionaire Elon Musk has fired thousands of people since taking over Twitter in October. (Muhammed Selim Korkutata / Anadolu Agency / Getty Images)
Twitter reportedly carried out another round of layoffs on Saturday, firing at least 50 people. (Photo by Smith Collection/Gado/Getty Images/Getty Images)
Musk grimly joked about Twitter’s earnings last week.
“Say what you will about me, but I’ve acquired the largest nonprofit organization in the world for $44 billion,” he wrote on Twitter.
According to Twitter, only paid subscribers can use text for two-factor authentication
Nonetheless, Musk has boasted that usage of the platform has skyrocketed since his acquisition.
Musk’s austerity efforts resulted in about 3,700 layoffs in recent months, leaving the company with just about 2,000 employees.
Elon Musk said he needed to drastically cut costs at Twitter to save the company from bankruptcy. (Tayfun Coskun/Anadolu Agency via Getty Images/Getty Images)
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
Musk’s changes to the Twitter platform largely relate to the Twitter Blue subscription program, which now allows users to pay a monthly fee to secure their own blue “verified” badge.