Twitter begins layoffs!

Twitter Inc. has told employees it would notify them about head-count reductions on Friday!

The apparent move that comes about a week after billionaire Elon Musk acquired the social-media company

Not only twitter, but Lyft & Stripe are planning a massive lay off due to stall growth in tech sector

WSJ Tweet in tech layoffs panning

Lyft, Stripe and Twitter are planning major job cuts as tech companies are paring back after unprecedented growth during the pandemic #WSJWhatsNow https://t.co/Hi2QyyYFaB pic.twitter.com/B7XQfY7Mc4

— The Wall Street Journal (@WSJ) November 4, 2022

WSJ tweets on Twitter, Lyft and Stripe

Twitter had more than 7,500 employees at the start of this year.

The company, in a message sent to staff on Thursday, didn’t spell out the extent of the cuts. Twitter had more than 7,500 employees at the start of this year, according to a regulatory filing.

The email seen by The Wall Street Journal said employees would receive a message by 9 a.m. PT Friday about whether they were affected.

The staff reductions were intended “to place Twitter on a healthy path,” according to the company’s email. “We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward,” the company added.

Elon Musk has purchased Twitter, ending a month’s long saga over whether or not he would go through with his offer to acquire the social media platform.

This Thursday, a growing number of Twitter employees said that they had lost access to their company Slack and email accounts, in an apparent sign that they were among those being laid off.

@thejournalbiz

source:WSJ

Image:Twitter