The file comes after a number of advertisers slashed their spending on the social-media platform after Elon Musk took cost of the business enterprise on October 27, ensuing in a 71% drop in advertising and marketing spend on Twitter at some point of December, records from advertising and marketing lookup company — Standard Media Index showed.
Twitter did no longer right away reply to a Reuters request for comment.
Musk, who warned in November about the opportunity of the Twitter going bankrupt, stated in December that the enterprise was once on song to be “roughly money glide break-even” in 2023.
Twitter made its first pastime fee in January on a mortgage that banks furnished to assist finance billionaire Musk’s buy of the social media business enterprise final year.
Twitter lays off 10% of modern-day workforce
Last week, Twitter laid off at least 200 employees, or about 10% of its workforce, the New York Times suggested in its state-of-the-art spherical of job cuts for the reason that Musk’s takeover.
The layoffs impacted product managers, records scientists and engineers who labored on computing device mastering and website reliability, which helps hold Twitter’s quite a number elements online, the NYT record said, citing human beings acquainted with the matter.
The organization has a headcount of about 2,300 lively employees, in accordance to Musk final month.
The present day job cuts observe a mass layoff in early November when Twitter laid off about 3,700 personnel in a cost-cutting measure via Musk.