Twitter embarked on a massive regime of layoffs Thursday and Friday, decimating entire divisions of the social media platform now owned by tech mogul Elon Musk
By- Avnish kushwaha
Image Credit -Google
Musk has said Twitter’s workforce was too large and placed too much emphasis on content moderation, platform safety, product development and marketing.
By- Avnish kushwaha
Image Credit -Google
Elon Musk begins mass layoffs at TwitterBut in buying out Twitter’s shareholders, Musk paid $44 billion for a company that lost $221 million last fiscal year.
By- Avnish kushwaha
Image Credit -Google
Twitter needs to boost its profit margins, said Josh White, an assistant professor of finance at Vanderbilt University.
By- Avnish kushwaha
Image Credit -Google
Musk on Friday morning tweeted that the company’s top source of revenue, advertising, has faced a sharp decline since his takeover.
By- Avnish kushwaha
Image Credit -Google
In one of Musk’s first moves as Twitter’s majority shareholder, he fired some of the company’s top executives, including the CEO, chief financial officer and general counsel.
By- Avnish kushwaha
Image Credit -Google
The Friday layoffs were expected to target the sales, trust and safety, marketing, product, engineering and legal divisions.
By- Avnish kushwaha
Image Credit -Google
Musk said the company offered three months of severance pay to everyone laid off
By- Avnish kushwaha
Image Credit -Google
A broad international cross-section of major corporations have pulled their advertisements, or at least paused ad campaigns
By- Avnish kushwaha
Image Credit -Google
Automakers Ford, General Motors and Volkswagen, including its Audi brand companies have stopped advertising on Twitter