The Elon Musk Effect: Twitter Lays Off Over 100 Employees
New Delhi: The future of Twitter employees has been in jeopardy ever since Elon Musk announced its acquisition. Now, Twitter has finally started cutting down its workforce. As per new reports, the micro-blogging site has cut 30 per cent of its talent acquisition team, which primarily includes recruiters and people responsible for bringing new hires on board. Twitter has confirmed laying off 100 employees.
Notably, Musk’s Twitter acquisition is yet to come through as the Tesla CEO had threatened to pull out of the deal multiple times over bot issues on the platform. In a separate report, WSJ confirmed that the deal was in “serious jeopardy,” and that “it was likely a change in direction from Musk’s team would come soon.”
Musk had his first meeting with the Twitter employees in June, during which he said that the company “needs to get healthy” financially and also bring the cost down. “Right now costs exceed revenue,” Musk told employees when asked about the possibility of layoffs during an internal Q&A, as reported by The Verge. Employees who heard the remarks told the publication. “That’s not a great situation,” Musk added. When employees further quizzed him about possible layoffs in the future, he said “It depends. The company does need to get healthy”, CNBC reported.