New York Times: Twitter lays off another 10% of the workforce | CNN Business
Twitter’s massive job cuts continued this weekend, as the company cut about 10% of its remaining workforce, according to a report in the New York Times.
The latest cut of about 200 jobs reduces the company’s workforce to fewer than 2,000 workers, according to the Times. That’s down from the 7,500 who worked for the social media platform before Elon Musk bought the company last fall for $44 billion.
The paper reported that the cuts affected product managers, data scientists and engineers who worked on machine learning and site reliability, which it said helps keep various functions online. from Twitter. The “monetization infrastructure team,” which maintains the services through which Twitter makes money, was reduced to fewer than eight people out of 30, according to the report.
Twitter did not respond to CNN’s request for comment on the Times report.
Twitter has been losing advertisers since Musk took over. Advertising revenue had been responsible for more than 90% of the company’s revenue. Musk’s plans to raise revenue directly from Twitter users by selling account verification have so far not worked out as planned.