Twitter has laid off another ten percent of its employees, the NYT writes

Twitter has laid off another ten percent of its employees, the NYT writes

Twitter lays off another ten percent of employees, NYT

Twitter headquarters in San Francisco November 4, 2022.

New York – Twitter has laid off at least 200 employees, about ten percent of its workforce. Referring to its sources, the server of The New York Times (NYT) reported about it on Sunday. This is at least the eighth round of layoffs since the end of last October, when businessman Elon Musk took over the company for roughly $44 billion (about CZK 985 billion). Since his arrival, the number of employees has decreased by approximately 70 percent.

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The latest wave of layoffs appears to involve product managers, data scientists and software engineers who worked on machine learning and web reliability, the New York daily reported. Twitter has not yet responded to Reuters' request for comment.

In early November, Twitter cut about 3,700 jobs due to cost-cutting. Twitter had about 2,300 active employees, according to Muskov's statement in January.

Twitter's new chief said in November that the service was facing a “massive drop in revenue” as advertisers cut spending due to concerns about content moderation. The company recently began sharing advertising revenue with some content creators.

Some critics worry that Musk's austerity measures at Twitter reflect on the functionality of the eponymous social network and the regulation of its content. Musk said this month that it will take him roughly until the end of this year to stabilize the company and ensure its financial health.