Twitter fired 30% of its talent team today, two months after the company-wide layoff began. recruitment freeze. A Twitter spokesperson confirmed the layoffs but declined to give the exact number of employees affected.
A spokesperson for the company added that employees would receive severance pay (but declined to provide details) and said the remaining employees would be redeployed due to the reduction in hiring. Twitter is suspending most hirings and fillings, except for the most essential roles.
A hiring freeze is not unusual in the midst of major acquisitionsbut apart from twitter upcoming $44 billion takeover by Elon Musk not particularly beneficial the social platform found itself in an unstable economic period. It is estimated that more 30,000 technical workers have been laid off in the last two months, and social media is not immune to the market downturn. Competitors love Click and Meta also took precautions to manage their overheads during times of economic turmoil. Just last week Meta CEO Mark Zuckerberg told the staff that they must be willing to do more work with fewer resources.
Twitter executives also saw a major reshuffle after Parag Agrawal replaced Jack Dorsey as CEO. After the Elon Musk deal was announced, Agrawal fired consumer goods CEO Kavon Bakpour and head of sales Bruce Falk.
Agrawal made a number of others key personnel changes since taking on a new role in December. At the time, Twitter lost chief designer Dantley Davis and chief engineer Michael Montano. A mounth later, Twitter lost two more leadersdirector of information security Rinki Sethi and head of security Peter Zatko.
“Some have asked why the lame duck CEO is making these changes when we are being bought anyway.” – Agrawal tweeted. “While I expect the deal to close, we need to be prepared for all scenarios and always do what’s right for Twitter.”
Agrawal himself is also likely to lose his short-lived CEO job if Musk acquisition goes through.
During a recent phone call with Twitter employees, Musk said he doesn’t care what position he has at the company, but he wants to be actively involved in product development. At this meeting, Twitter employees raised concerns about potential layoffs in response to the macroeconomic situation.
“Now the expenses exceed the income. It’s not a good situation,” he said of the potential layoffs on Twitter. As CEO of Tesla, Musk nearly quit 200 employees and closed the company’s office in San Mateo, California, amid wider job cuts. However, it’s unclear what impact Musk will have on Twitter employees even if the deal is closed.
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Credit: techcrunch.com /