Elon Musk took over Twitter in October and swiftly moved by a lot of product and organisational adjustments. File
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Twitter Inc. plans to lay off 50 staff in its product division within the coming weeks, Business Insider reported quoting two folks acquainted with the corporate.
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Also Read | Elon Musk plans to lower half of Twitter jobs
The layoffs come six weeks after Elon Musk reportedly advised workers that there wouldn’t be additional retrenchment and will cut back the corporate’s headcount to beneath 2,000, in accordance to the report.
Mr. Musk took over Twitter in October and swiftly moved by a lot of product and organisational adjustments. The firm rolled out Twitter-verified Blue check-mark as a paid service and in addition laid off about 50% workers.
Twitter laid off roughly 3,700 workers in early November in a cost-cutting measure by Mr. Musk, and a whole bunch more subsequently resigned.
In December final yr, Twitter was additionally accused by dozens of former workers of varied authorized violations stemming from Mr. Musk’s takeover of the corporate, together with concentrating on ladies for layoffs and failing to pay promised severance.
Mr. Musk had mentioned in November that Twitter was dealing with “a massive drop in revenue” as advertisers dropped out.
According to a report by The Information, Twitter’s income for the fourth quarter fell about 35% to $1.025 billion, a prime advert government revealed at a workers assembly.
Also Read | Will Twitter layoffs violate U.S. legislation?
Twitter can also be dealing with a minimum of three complaints filed with a U.S. labour board claiming staff have been fired for criticising the corporate, trying to organise a strike, and different conduct protected by federal labour legislation.
(With Reuters inputs)
