Elon Musk’s vision for his newly $44 billion purchased social media platform “X” in reducing wasteful spending has led to another massive job cuts, as the company cut about ten percent of its remaining staff, according to a report in the New York Times.
That’s down from the 7,500 who worked for the company before Elon Musk bought the company. The latest laid off of about two hundred jobs takes the company’s headcount down leaving a staff of fewer than two thousand staffers, according to the Times.
According to the New York Times. The layoffs came after the company complicated its internal communications by ending its contract with Slack. The layoffs affected staff across the board at Twitter, including several former founders whose companies Twitter had acquired.
The New York Times reported that the cuts also hit product managers, data scientists, and engineers who worked on machine learning and site reliability, which, it said, helps keep Twitter’s various features online. The “monetization infrastructure team,” which maintains the services through which Twitter makes money, was reduced to fewer than 8 people from thirty, according to the report.
Rumors have it that Twitter has been losing advertisers since Musk took over. Twitter Advert revenue has been responsible for more than ninety percent of the company revenue. Elon Musk’s plans to raise revenue directly from Twitter users by now selling verification of accounts has thus far not worked as planned.
Also, Musk has been attempting to get the situation under control and seek new forms of revenue. The company updated its advertising policy on Feb. 16 to allow marijuana advertisers to post ads on Twitter under limited circumstances.
The round of layoffs on Saturday is one of the largest since Musk assured staff in November that there would be no more layoffs. Remember that Elon Musk fired thousands of staff in November, leaving several key offices understaffed for months. Staffing issues were exacerbated after the billionaire asked employees to sign on to work at a “hardcore” Twitter or to resign with benefits. Hundreds of staff left in response.
