Twitter intends to lay off more personnel in the coming weeks. The most recent layoff will affect 50 employees in the product division. The decision, which comes six weeks after CEO Elon Musk reportedly told employees that there would be no future layoffs, may reduce the company’s workforce to under 2,000 people.
Musk has already fired roughly half of Twitter’s 7,500 employees since taking over the firm earlier this month, affecting employees in product trust and safety, policy, communications, tweet curation, ethical AI, data science, and other divisions. Twitter’s communications staff is no longer available for comment.
Musk began considering additional layoffs and fired Robin Wheeler, the company’s head of ad sales, and Maggie McLean Suniewick, Twitter’s vice president of partnerships when they refused to agree to more layoffs. Last Friday, Sarah Rosen, Twitter’s head of US content partnerships, also left the company.
The company earlier demanded workers work from the office, though that is supposed to change as Musk has allegedly not paid the rent. He is also facing a lawsuit. Interestingly, Twitter is said to be giving up office facilities in Delhi and Mumbai to save expenses.
In terms of costs, Twitter discovered a novel technique to generate revenue. The corporation sells leftover office supplies like furniture, PCs, kitchenware, and Twitter memorabilia like the Twitter bird emblem, among other things. Furthermore, Elon Musk is set to make the first interest payment on the $13 billion loan he took out to buy Twitter. The payment is due at the end of January. Furthermore, Twitter’s revenue has decreased by 40% year over year.
Not only Twitter but also other tech behemoths are having financial difficulties. Microsoft just laid off nearly 10,000 workers, as did Amazon late last year. In November 2022, Meta, previously Facebook, laid off over 11,000 employees. Even in India, some tech firms and start-ups are experiencing the effects of the country’s unpredictable macroeconomic conditions. Employees were recently laid off by companies such as ShareChat and Dunzo.
