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Twitter lays off 10% of current workforce - NYT

Published 02/26/2023, 02:07 AM
Updated 02/27/2023, 06:06 AM
© Reuters. FILE PHOTO: A view of the Twitter logo at its corporate headquarters in San Francisco, California, U.S. November 18, 2022. REUTERS/Carlos Barria
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(Reuters) - Twitter Inc (NYSE:TWTR) has laid off at least 200 employees, or about 10% of its workforce, the New York Times reported late on Sunday, in its latest round of job cuts since Elon Musk took over the micro-blogging site last October.

The layoffs on Saturday night 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.

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

The company has a headcount of about 2,300 active employees, according to Musk last month.

The latest job cuts follow a mass layoff in early November, when Twitter laid off about 3,700 employees in a cost-cutting measure by Musk, who had acquired the company for $44 billion.

Musk said in November that the service was experiencing a "massive drop in revenue" as advertisers pulled spending amid concerns about content moderation.

© Reuters. FILE PHOTO: A view of the Twitter logo at its corporate headquarters in San Francisco, California, U.S. November 18, 2022. REUTERS/Carlos Barria

Twitter recently started sharing revenue from advertisements with some of its content creators.

Earlier in the day, The Information reported that the social media platform laid off dozens of employees on Saturday, aiming to offset a plunge in revenue.

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