Saturday, March 2, 2024
Business News

Reports say Twitter fires more employees in 8th round of job cuts

Social media giant Twitter has reportedly laid off more employees in its latest cost-cutting measure, marking the eighth round of job cuts since Tesla CEO Elon Musk took over as its CEO last year. According to a report by The Information, the company has fired at least 50 employees, affecting several engineering teams.

The latest job cuts come just a few months after the company laid off around 3,700 employees in November 2022. The move was aimed at reducing costs as part of Musk’s efforts to turn the struggling company around.

Since taking over the reins at Twitter, Musk has been pushing for changes aimed at improving the company’s performance and profitability. These efforts include investing in new products and services, as well as streamlining the company’s operations by cutting costs and reducing its workforce.

While the job cuts may be seen as a necessary step in Twitter’s efforts to become more efficient and competitive, they are also likely to have a significant impact on the affected employees. Many of those who have been laid off may struggle to find new employment in a tough job market, particularly given the ongoing economic uncertainties caused by the COVID-19 pandemic.

Twitter has not yet commented on the latest job cuts, but the company has previously stated that it is committed to maintaining a strong and dedicated workforce. Despite the recent layoffs, Twitter remains one of the world’s largest social media platforms, with millions of users around the globe.

The company has also continued to invest in new products and services, including a recent push into the audio space with the launch of its Clubhouse-style Spaces feature. This move has been seen as an effort to stay ahead of the competition and maintain its position as one of the leading social media platforms in the world.

While the latest job cuts are likely to be seen as a setback for Twitter, they are also indicative of the ongoing efforts to improve the company’s performance and competitiveness. As the social media landscape continues to evolve and change, it will be interesting to see how Twitter adapts and evolves to meet the challenges of the future.