The New York Times News reports that Twitter, a popular social media platform The company, owned by billionaire Elon Musk, announced a layoff of at least 200 jobs, accounting for about 10 percent of the company’s total workforce, on Saturday night (February 25).
Sources stated that Positions affected by this restructuring of the Company include: product manager Data Scientists and engineers responsible for the stability of the back-end system, including Machine Learning.
Twitter currently has about 2,300 full-time employees. The company previously announced a massive layoff of 3,700 people in early November of last year. The layoffs came shortly after Elon Musk spent $44 billion acquiring Twitter.
Reuters said that since Musk bought Twitter, the company has faced a decline in revenue. Due to changes to several aspects of Musk’s policies, such as removing the ban on ads related to politics. Many businesses have decided to withdraw their advertising budget from Twitter, affecting the company’s bottom line.