Twitter lays off 10% of workforce, reducing headcount to less than 2,000
Elon Musk’s Twitter has laid off another 200 people in its latest round of job cuts, the New York Times reported late on Sunday. The current layoff, which represents 10% of the current workforce, reduced headcount to less than 2,000 vs. 7,500 when Elon Musk took it over in October, the New York Times reported late on Sunday.
According to the report, the layoffs impacted product managers, data scientists, and engineers who worked on machine learning and site reliability, which helps keep Twitter’s various features online, the NYT report said, citing people familiar with the matter.
The latest job cuts follow a mass layoff in early November when Twitter laid off about 3,700 staff as part of a cost-cutting measure by Musk after a $44 billion takeover.
Musk said in November that the service was experiencing a “massive drop in revenue” as advertisers pulled spending amid concerns about content moderation.
The latest layoff announcement is also the latest in a string of job cuts in the tech industry. Last week, Washington Post reported that Facebook parent company Meta Platforms was planning a fresh round of layoffs that could affect thousands of workers just a few weeks after CEO Mark Zuckerberg promised no more layoffs.
This month, the world’s largest domain registrar GoDaddy also laid off 8% of its workforce, or about 530 employees amid the global economic slowdown. During the same week, Zoom announced it was laying off 15% of its workforce, or about 1,300 employees as its stock fell from its peak of $559 to $85. A day earlier, Dell announced plans to lay off 6,650 workers. In January, Google also said it plans to lay off more than 12,000 workers, while Microsoft revealed it plans to cut 10,000 employees and Salesforce announced plans to lay off 7,000 workers.
With just two months into 2023, more than 417 tech companies have laid off over 119,034 tech workers, according to Layoffs.FYI, a site that has been tracking all tech layoffs using data compiled from public reports.