Elon Musk to lay off several Twitter employees in the coming weeks: Report

Musk said in November that Twitter was facing “a massive drop in revenue” as advertisers dropped out.

San Francisco:

Twitter Inc plans to lay off 50 workers in its social media products division in the coming weeks, news site Insider reported on Wednesday, citing two people familiar with the company.

The layoffs, which come six weeks after CEO Elon Musk reportedly told employees there would be no further layoffs, could reduce the company̵[ads1]7;s workforce to less than 2,000, according to the report.

Twitter did not immediately respond to a Reuters request for comment.

Musk took over Twitter in October and quickly went through a series of product and organizational changes. The company rolled out Twitter-verified blue tick as a paid service and also laid off about 50% of employees.

Musk said in November that Twitter was facing “a massive drop in revenue” as advertisers dropped out.

Twitter’s fourth-quarter revenue fell about 35% to $1.025 billion, a top advertising executive revealed at a staff meeting, according to the online publication Information on Wednesday.

Staff cuts so far, which have also included staff working in the content moderation department, have raised fears of an increase in hate speech on the platform.

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