Twitter has announced the layoff of 30 percent of its talent acquisition staff as the firm faces mounting business challenges and the possibility of a takeover by Elon Musk.
The redundancies come after the company said in May that it would pause recruiting and attempt to reduce its costs.
A reorganization means the corporation is shrinking its talent acquisition workforce as a result of changing business demands.
The company confirmed that the cuts would hit fewer than 100 people and will be limited to the talent acquisition team.
A spokesperson for Twitter confirmed the layoffs but declined to comment further.
In light of the hiring freeze, Twitter is restructuring its talent acquisition team, which includes recruiters, to make sure that it runs effectively and responsibly.
The news comes as Twitter awaits Mr. Musk’s $44 billion acquisition of the firm.
Musk put his deal “on hold” in May after questioning how Twitter measures spam and fake accounts.
In a conference on Thursday, July 7, Twitter officials hold on to defending the accuracy of their calculation of spam on the platform.
On a call with reporters, they maintained that spam accounts represent fewer than five percent of the company’s daily monetizable users, which Twitter defines as everyday users that are signed in and authenticated.
Mr. Musk has hinted that the figure may be closer to 20 percent but has not provided any evidence to back up the claim.tatements were untrustworthy.
Twitter is the latest tech company to report layoffs in the midst of dropping stock prices and recession concerns.
Coinbase stated last month that it will lay off 1,100 people, or 18 percent of its personnel, while Unity Software confirmed last week that it would lay off four percent of its personnel.
Others, including Microsoft, Snap, and Facebook parent Meta, have announced job cuts or freezes in hiring.
Numerous Twitter employees took to LinkedIn to post about the layoffs.
A recruiter who was laid off from Twitter wrote on LinkedIn: “I am overwhelmed; nervous and anxious but trying to stay optimistic of the future.”
One affected said that those who were laid off woke up on Thursday to 30-minute meetings put onto their calendars and stated that although the layoffs were sudden, they were not entirely unexpected.
Twitter recruiters have had little work to do since the firm declared a hiring pause in May, prompting some employees to look for other positions elsewhere.
Contractors who worked for Twitter through an outside agency were also affected by the layoffs.
Source: The Wall Street Journal