Twitter lays off 50 in cost cutting move

Twitter Inc has laid off dozens of employees in the eighth round of job cuts since Elon Musk took over the social network in October, 2023.

The latest cuts on Saturday impacted multiple engineering teams, including those supporting advertising technology, the main Twitter app as well as technical infrastructure to keep Twitter’s systems up and running.

Reuters reports that the latest job cuts aim to offset a plunge in revenue and further reduce a staff that had shrunk by at least 70% to roughly 2,000.

In early November, Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who acquired the company for $44 billion.

Writing by Marian Benjamin