Twitter announced that the talent recruitment team will lay off 30% of its staff. In May this year, Twitter said it would suspend hiring and cut costs. Because of changes in business needs, Twitter reorganized its talent acquisition team and cut its headcount. 30% layoffs sound like a lot, but less than 100 people are actually affected.
At this moment, Twitter and Musk are still in a stalemate. Musk had announced a $44 billion acquisition of Twitter, but in May he said the deal was on hold because Musk questioned statistics about spam and fake accounts.
On Thursday, Twitter executives reiterated that the company’s tally of spam and fake accounts is accurate and that they account for no more than 5% of mDAUs (users who log in every day and can earn money). The so-called mDAU refers to users who log in and get verified every day. Musk thinks the proportion is closer to 20%.
Many tech companies are laying off workers as stock prices fall and recession expectations grow. Coinbase Global laid off 1,100 jobs last month, accounting for 18% of its workforce; Unity Software announced last week that it would lay off 4% of its workforce. Both Microsoft and Meta said they would cut hiring or freeze hiring.
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