Elon Musk Fallout: Over 100 Twitter employees sacked in SHOCK move
In a shock move, Twitter has sacked more than 100 employees, who formed almost 30 per cent of its HR team. This is the first mass lay off the company has conducted ever since the Elon Musk takeover was announced. According to reports, the employees who were let go consisted mainly of recruiters who were responsible for talent acquisition to the company. In May, Twitter CEO Parag Agrawal had stated in a company-wide email that budget cuts would be taking place in the near future.
Twitter’s decision to part ways with one third of its talent acquisition team comes as it battles increasing business pressures, revenue slowdowns and a potential takeover by Elon Musk. According to Wall Street Journal, who first reported it, a Twitter spokesperson confirmed the layoffs but refused to make a comment. The spokesperson told Wall Street Journal, “In light of the hiring pause Twitter is reprioritizing the talent acquisition team, which includes recruiters, to ensure that it operates efficiently and responsibly”. Notably, the hiring pause was also announced in the same email by Agrawal.
The mass layoff also comes just two weeks after Musk held a meeting with Twitter employees and said that the company needs to get healthy, which could be a possible hint at layoffs. The potential takeover was expected to take place earlier this year, however, it was put on pause after Musk raised concerns over Twitter’s claim of 5 per cent of total users consisting of bots and spam accounts. According to Musk, the number was closer to 20 per cent.
As more than 100 people have lost their jobs at Twitter, this is the latest in a long series of mass layoff in tech companies seen globally. Recently Netflix fired 300 employees citing revenue slowdown as the
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