Twitter announced the reduction of 10% of the remaining employees

Since a businessman Elon Musk bought the social network Twitter for about $44 billion. there have been significant layoffs in his staff, this time it will be 10% of the remaining staff, according to a New York Times report, which is about 200 jobs.

Before the purchase, the company employed about 7500 people, With this latest layoff, the payroll has been reduced to less than 2,000 employees. According to the American newspaper, layoffs will affect various areas of the company, from managers to engineers.

In addition, it is assumed that out of 30 people who worked in the platform monetization team, only 8 remained. This, coupled with the fact that since last year, Twitter has lost more than 500 advertisers. About 90% of the social network’s revenue came from these advertisements.

Among the long list of companies that said goodbye to Twitter, there are about 50 large companies around the world, such as: Chevrolet, Ford, Novartis, AG Mondelez, Apple and others who had already retired before the arrival of the billionaire; Coca Cola, Nestle and Chanel.

The mogul recently announced a monthly subscription and account verification sale to boost revenue; however, the new service does not collect enough.

Late last year, Musk referred to the wave of layoffs on Twitter, pointing out that by keeping the payroll he was losing about $4 million a day and that the strategy therefore needed to be implemented. In addition, he argued that laid-off workers receive generous severance pay.

Twitter won’t be the only digital platform to announce layoffs, Facebook laid off about 11,000 employees last year; Also Snapchat announced the reduction of about 1200 employees and Spotify last month reported about 600 job cuts.

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