Twitter: Laying Off 50 Percent Of Employees

Social media platform provider Twitter laid off about 50 percent of its entire employee base, according to a tweet from Yoel Roth, Twitter’s former head of safety and integrity who resigned not long after his tweet. It could have been worse, given that Elon Musk, who last month acquired Twitter for $44 billion, told perspective investors in that deal that he planned to cut about 75 percent of the company’s employees, according to the Washington Post.

Twitter had no choice but to cut its workforce given that the company is losing over $4 million per day, Musk last week wrote in a tweet. He also said that Twitter’s employees were offered three months of severance, “which is 50 percent more than legally required.”

The total number of layoffs is subject to change. Twitter is actually rehiring several employees for critical positions who should not have been laid off, the company said.