Twitter lays off about 80% of its employees

Specifically, at this time, Twitter only has about 1,500 employees. Before being acquired by billionaire Elon Musk, Twitter had 7,800 employees.

Mr. Elon Musk also revealed that the fact that brands cut advertising on this platform caused Twitter’s revenue to plummet.

In early November 2022, Twitter laid off about 3,700 employees under the cost-cutting program of Elon Musk, who bought the social network for $44 billion.

According to US media, Twitter is currently facing a series of lawsuits and legal actions brought by former employees of this social network.

After completing the deal to acquire Twitter in October 2022, billionaire Elon Musk has reformed this social network. He immediately fired several senior Twitter executives, including Chief Executive Officer (CEO) Parag Agrawal, Chief Financial Officer (CFO) Ned Segal and head of legal affairs Vijaya Gadde.

Billionaire Musk’s administrative, personnel and rule reforms have caused a lot of turmoil for Twitter. Musk himself once mentioned the possibility that Twitter could go bankrupt after the platform fell into turmoil with warnings from US regulators and the departure of a series of heads of key departments.

As of December 17, 2022, 72 of Twitter’s top 100 advertisers have paused ad campaigns on the platform, as assessed by digital marketing intelligence firm Pathmatics.