Twitter lays off 50 employees to cut costs

Twitter Inc lays off a number of employees estimated to exceed 50 on Saturday in a move perceived of another attempt to cut costs, according to company sources and social media posts from employees affected by the layoffs.

The informed sources have elaborated that the latest job cuts impacted many engineering teams within the firm, Reuters mentioned.

This included employees responsible for technical infrastructure which keeps Twitter up and running, in addition to employees supporting advertising technology.

Since Elon Musk‘s acquirement of the company last October, Twitter has laid off around 3,700 employees; shrinking the staff with around 70 percent.

Twitter has been facing a decrease in revenues; a statement confirmed by Musk himself saying the service is experiencing massive drop in revenue.

Musk explained the drop in revenues caused by advertisers concerned about content moderation. He has carried out around eight rounds of jobs cuts since he acquired the social network.