Twitter to lay off more employees: Report

Twitter plans to fire 50 employees from its product team in the coming weeks, according to two sources familiar with the company, news website Insider claimed on January 18. The layoffs occur six weeks after Elon Musk, the company's top executive, had allegedly told colleagues there would be no further layoffs. It might result in less than 2,000 people working for the company, according to the report.

Fears of an increase in hate speech on Twitter have been fuelled by staff reductions to date, which also affected personnel in the content moderation division. Twitter did not immediately respond to a Reuters request for comment.

A top ad executive told during a staff meeting that Twitter's revenue for the fourth quarter dropped by around 35% to $1.025 billion.

Musk quickly implemented a number of organisational and product changes after assuming control of Twitter in October. In addition to laying off nearly 50% of its workforce, Twitter launched a premium service called Twitter-verified Blue check-mark. Musk had said in November that the loss of advertising was causing Twitter to see "a massive drop in revenue”.

Employees at Twitter were reported to be left scared in the restroom at the company's headquarters when Elon Musk's takeover was finalised amid growing layoff concerns. The Verge cited an unidentified executive who recalls grieving over what they thought was the demise of Twitter until seeing someone costumed as Captain Jack Sparrow from Pirates of the Caribbean right away.

Then, in his first week, Musk picked 3,700 people — or approximately 50% of the company's 7,500 employees at the time — to be let go. Employees had been ranked in stacks by managers, and lists of those who should be retained or let go had been compiled, as per media reports.

(With agency inputs)