Twitter has finally begun to reduce its workforce. Since Elon Musk announced the acquisition of Twitter, the future of Twitter employees has been jeopardised. According to new reports, the microblogging site has reduced 30% of its talent acquisition team, which primarily consists of recruiters and people in charge of bringing on new hires. Twitter has confirmed that 100 employees will be laid off.
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Wall Street Journal states in his report that, Twitter has parted ways with members of its talent acquisition team. Approximately 100 people have lost their jobs at the company. The layoff occurred just weeks after Musk stated that Twitter needed to get healthy, implying possible layoffs. Twitter had previously announced a hiring freeze in order to cut costs as the company struggles to complete Musk acquisition.
Musk Twitter acquisition is still on hold, as the Tesla CEO repeatedly threatened to back out of the deal due to bot issues on the platform. In a separate report, the Wall Street Journal confirmed that the deal was in "serious jeopardy" and that "a change in direction from Musk team was likely to come soon."
Musk met with Twitter employees for the first time in June, during which he stated that the company "needs to get healthy" financially and reduce costs. "Right now, costs exceed revenue," Musk said during an internal Q&A when asked about the possibility of layoffs, according to The Verge. Employees who overheard the comments informed the publication. "That isn't a good situation, "Musk continued. When employees pressed him further about future layoffs, he replied, "It depends." The company must improve its health ", according to CNBC.
Ingrid Johnson, Senior Technical Recruiter at Twitter, revealed on LinkedIn that the latest round of layoffs has affected people who have worked for the company for many years. "Twitter layoffs began today." People who have worked for the company for over a decade are being laid off. This is a particularly difficult day. Furthermore, there is currently a ban on selling any Vested Stock. "It started on May 31st," he wrote.
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