Twitter is laying off at least 50 in relentless cost cutting

Twitter is laying off at least 50 in relentless cost-cutting, reports The Information

Feb 26 (Portal) – Elon Musk’s Twitter Inc. laid off dozens of employees on Saturday in at least the eighth round of job cuts since Musk took over the social network in late October, the information reported.

The job cuts affected multiple engineering teams, including those supporting advertising technology, the main Twitter app, as well as the technical infrastructure to keep Twitter’s systems running, the report said in the U.S. technology-focused publication early Sunday citing people with direct knowledge The reason.

Twitter did not immediately respond to Portal’ request for comment.

In early November, Twitter laid off about 3,700 employees in a cost-cutting move by Musk, who acquired the company for $44 billion.

The Information reported that the latest job cuts are aimed at offsetting a slump in sales following Musk’s acquisition and further reducing the workforce, which had shrunk by at least 70% to about 2,000.

Musk said in November that the service was experiencing a “massive drop in revenue” as advertisers cut spending over content moderation concerns.

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Reporting by Maria Ponnezhath in Bengaluru; Edited by Kim Coghill

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