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More Elon Musk job cuts mean Twitter will have lowest headcount in a decade

And, last week, layoffs occurred in its offices in Singapore and Australia.

Employees expect plans to close many international offices and several smaller offices in the US to result in more downsizing in 2023.

If it gets implemented, the company’s headcount could soon fall below 2,000.

That means the social media giant will be a much smaller organization than it had been in almost a decade.

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Twitter became a public company in 2013 and it employed 2,700 people at that time.

Dipping under 2,000 employees would also mean Musk would have reduced Twitter's headcount by more than 75 percent.

This is far more than expected when Musk took the helm in October following his $44 billion takeover.

His first round of cuts wiped out almost half of Twitter’s employees, followed by resignations when Musk mandated a “hardcore” work environment or else staff should leave the firm.

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Several affected employees said that staffers are still being fired abruptly, with little or no explanation.

Even while Musk said in November that no more waves of cuts were "planned," Twitter employees have come to accept that most of what he says cannot be relied on.

The billionaire has compared Twitter to a “plane headed towards the ground at high speed”. 

At the same time, he has blamed previous leadership and spending policies.

Within three months of his tenure as CEO, hundreds of advertisers have distanced themselves from the platform because of its chaotic policy implementations. 

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It ranges from the removal of workers tasked with monitoring and eliminating hate speech to the reinstatement of accounts banned for inciting violence.

Musk has also made a number of politically motivated and deceptive comments.

Twitter's revenue is mainly dependent on advertising.

In November, Musk said that the firm was "losing $4 million a day."

Yet, when Twitter announced its financials as a public company for the second quarter of last year, it lost almost $3 million each day.

Twitter made $513 million in profit in the first quarter of the previous year.

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Musk has also taken other steps to reduce costs.

He's removed site features and reduced or canceled a slew of staff benefits and perks, including fertility care and freshly prepared meals.

To save hotel expenses, some office space in San Francisco and New York has been repurposed into sleeping quarters and showers.

There have even been complaints that cuts to janitorial and facilities workers have made the offices unhygienic and bug-infested.

His decision to shut down a key data center in Sacramento, California, on Christmas Eve was also motivated by cost.

The operation of such facilities can cost several million dollars every month.

A Twitter representative did not respond to an email requesting comment on the latest staff cuts.

Source: Insider

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