© Reuters. FILE PHOTO: A view of the Twitter logo at its corporate headquarters in San Francisco, California, U.S., November 18, 2022. REUTERS/Carlos Barria
(Reuters) – Elon Musk twitter inc. (NYSE:) laid off dozens of employees on Saturday in what is at least the eighth round of job cuts since Musk took over the social network in late October, Information reported.
The job cuts affected several engineering teams, including those that support ad tech, Twitter’s core app and the technical infrastructure to keep Twitter’s systems running, the report said early Sunday in Twitter’s technology-focused publication. USA, citing people with direct knowledge of the matter
Twitter did not immediately respond to Reuters’ request for comment.
In early November, Twitter laid off about 3,700 employees in a cost-cutting move by Musk, who bought the company for $44 billion.
The Information reported that the latest job cuts are aimed at offsetting a drop in revenue following the Musk takeover and further cutting staff that had been reduced by at least 70% to about 2,000.
Musk said in November that the service was experiencing a “massive drop in revenue” as advertisers cut spending amid concerns about content moderation.