In the recent layoff, Twitter fired another 200 employees which is around 10% of the existing active employees. According to the news resources, these employees belonged to the professions such as product managers, engineers, and data scientists.
In the first biggest layoff, Twitter’s CEO Elon Musk fired 3,700 employees which decrease the total number of active Twitter employees to 2,300. Elon Musk tweeted this number in one of his tweets. Now with the second layoff of 200 employees, this number decreases from 2,300 to 2,100.
All these firings of employees are happening after Elon Musk’s takeover the Twitter. The company is doing this to decrease costs and increase the income stream. To increase the income stream of the company, Twitter also introduced paid services for Blue Tick and allowed political advertisements.
In order to get the blue tick, individuals can pay a monthly fee and enjoy many other benefits. This will give a possibility to almost everyone to get a blue tick via paid service. Other benefits that paid members can get are the possibility to post longer and high-quality videos, the possibility to edit tweets multiple times in 30 minutes, the possibility of higher ranking of posts and replies, and many more.
Previously, Elon Musk also fired approximately 90% of staff from Indian offices and also closed two Twitter offices. These offices were located in New Delhi and Mumbai. Now only one Twitter office is working in India. Elon Musk did this to reduce the operating cost of the company and to make Twitter more profitable.
Recently, many other big tech companies such as Meta, Amazon, and many others also fired their employees in a similar manner. It’s all happening because tech companies want to reduce their costs which are increasing due to inflation, high-interest rates, and the COVID pandemic.