After failing to see billions of dollars flow in from a new subscription model, Twitter is reported to have laid off another 200 employees, or 10% of its workforce. Prior to its acquisition by Elon Musk, Twitter earned 90% of its revenues from advertising. Having done his best to alienate advertisers, money appears to be a problem for the world's formerly richest man.
Twitter's massive job cuts continued this weekend, as the company cut about 10% of its remaining staff, according to a report in the New York Times.
The latest axing of about 200 jobs takes the company's headcount down to under 2,000 staffers, according to the Times. That's down from the 7,500 who worked for the social media platform before Elon Musk bought the company last fall for $44 billion.
The paper reported that the cuts hit product managers, data scientists and engineers who worked on machine learning and site reliability, which, it said, helps keep Twitter's various features online. The "monetization infrastructure team," which maintains the services through which Twitter makes money, was reduced to fewer than eight people from 30, according to the report.