Twitter has laid off 30 percent of its recruitment team amidst ongoing controversial acquisition talks with Elon Musk. While the company confirmed the news, didn’t reveal the exact number of employees affected but said ‘fewer than 100 people’ in the talent acquisition team were laid off, as reported by The Wall Street Journal.
The social media company recently said it’d freeze the hiring process in order to minimize its costs while the company hasn’t still finalized $44 billion acquisition talks with Tesla CEO Elon Musk. In the meantime, Musk threatened to end the deal saying that Twitter was not providing information about fake and spam accounts.
During a meeting with Twitter employees that took place in midst June, when employees expressed their concerns about possible layoffs, Musk said: “It depends. The company does need to get healthy”, adding that Twitter’s costs exceeded its revenue, as reported by CNBC.
Now according to a new report from the Washington Post, anonymous sources said Musk and his friends are no longer ‘’engaging in certain discussions” and there soon could be a “change in direction from Musk’s team”.
While the uncertainty still continues between Twitter and Musk, the social media company has taken its place among many tech giants laying off staff to cut costs amidst the global economic slowdown.
Last week, Meta Platforms Inc. cut its hiring plans as Mark Zuckerberg warned employees about a deep economic downturn. “If I had to bet, I’d say that this might be one of the worst downturns that we’ve seen in recent history,” said CEO Zuckerberg.