According to multiple media reports, %Twitter has laid off another 10% of its workforce as the company ramps up its cost cutting measures and tries to improve its finances.
According to a report in The New York Times, Twitter cut an additional 200 jobs over the weekend, lowering its headcount to less than 2,000 employees worldwide.
Twitter had as many as 7,500 employees globally last October before Elon Musk bought the company for $44 billion U.S. and took an axe to internal budgets.
The latest round of layoffs apparently targeted product managers, data scientists, and engineers who worked on machine learning and site reliability at Twitter.
The “monetization infrastructure team” that maintains the services through which Twitter earns money has now been reduced to eight employees from 30 last fall.
Since acquiring Twitter and taking it private, Musk has said that the company is in financial straits and needs to be leaned out.
However, Twitter has also been losing advertisers since Musk took control, which is bad considering that 90% of the company’s annual revenue comes from advertising on the social media platform.
Twitter’s stock is no longer publicly traded.