Twitter intends to implement further layoffs
According to two people familiar with the enterprise, Twitter Inc. plans to fire 50 employees from the social media site's product division in the upcoming weeks, as the news website Insider reported.
The cuts, which come six weeks after Elon Musk, the company's top executive, reportedly assured colleagues there would be no further layoffs, may bring the company's headcount down to around 2,000, the story claims.
A request for comment from Reuters did not receive a response right away from Twitter.
Musk promptly implemented a number of organizational and product changes after taking over Twitter in October. In addition to laying off nearly 50% of its workforce, the firm launched a premium service of Twitter-verified Blue check-mark.
Musk had stated in November that the loss of advertising was causing Twitter to see a big decline in income.
According to online journal the Information, a top ad executive told during a staff meeting that Twitter's income for the fourth quarter dropped by around 35% to $1.025 billion.
Fears of a rise in hate speech on the platform have been fueled by staff reductions that have already taken place and included workers in the content moderation division.
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