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Twitter Inc is planning to retrench more employees in the product division in the coming weeks. The latest cut will affect 50 workers in the product division, reported news agency Reuters citing Insider.
The latest move, which comes six weeks after chief Elon Musk reportedly communicated to its employees that there would not be further retrenchment, could bring down the company’s headcount to under 2,000, the report added.
ALSO READ: Microsoft 10000 Job Cuts Satya Nadella Announce Economic Growth Slow (abplive.com)
Microsoft on Wednesday announced that it is set to cut 10,000 jobs amid slowing global growth, in the latest round of layoffs. The layoff will impact up to 5 percent of Microsoft’s global workforce and cost the business $1.2 billion in severance and reorganization costs.
The job cuts at Microsoft come after technology companies like Amazon.com and Meta announced retrenchment exercises in response to slowing demand and a declining global economic outlook.
Twitter’s revenue for the fourth quarter fell about 35% to $1.025 billion, a top advertising executive revealed at a staff meeting, online publication The Information reported on Wednesday.
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