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Tuesday, May 21, 2024

Twitter to Lay Off at Least 200 Employees in Latest Round of Job Cuts

Twitter is reportedly planning to lay off at least 200 employees in its most recent round of job cuts. The news comes amid the social media giant’s ongoing efforts to streamline its operations and cut costs.

According to anonymous sources familiar with the matter, Twitter is set to announce the layoffs as early as next week. The affected employees are said to be from various departments across the company.

The job cuts are part of Twitter’s broader restructuring plan, which was announced last year. The plan aims to reduce expenses and refocus the company’s efforts on key growth areas. At the time, Twitter CEO Jack Dorsey said the move was necessary to “drive greater efficiency, speed, and impact” across the organization.

This is not the first time Twitter has undertaken a major round of layoffs. In 2015, the company cut around 8% of its workforce, or about 336 jobs, as it struggled to turn a profit. The move was widely seen as a response to slowing user growth and increasing competition from other social media platforms.

Since then, Twitter has made several attempts to reignite its growth, including the launch of new features like Fleets, Spaces, and Super Follows. The company has also been investing heavily in its advertising business and exploring new revenue streams.

Despite these efforts, Twitter has continued to face challenges, including ongoing concerns about misinformation and hate speech on the platform. The company has also faced criticism from some investors and analysts for failing to keep up with rivals like Facebook and TikTok in terms of user growth and engagement.

The latest round of job cuts is likely to be seen as a further sign of Twitter’s struggles to stay competitive. However, it remains to be seen whether the move will be enough to turn the company’s fortunes around and boost its long-term prospects.

David Faber
David Faber
I am a Business Journalist of The National Era
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