Far-left social networking platform Twitter is letting 30 percent of its recruiting staff go, amid widespread layoffs throughout the tech sector, as well as the potential of Elon Musk taking over the company.
Via the Wall Street Journal:
Twitter Inc. TWTR 1.52%▲ on Thursday said it laid off 30% of its talent acquisition team, as the company deals with increasing business pressures and a potential takeover from Elon Musk.
The layoffs come after the company in May announced that it would be pausing hiring and looking to cut costs. As a result of the revised business needs, the company is restructuring and reducing its talent acquisition team. The layoffs are expected to affect fewer than 100 people and are limited to the talent acquisition team, the company said.
Twitter is the latest tech company to announce layoffs amid falling stock prices and fears of recession. Last month, Coinbase Global Inc. said it would cut 1,100 employees, or 18% of its staff, while Unity Software Inc. last week announced that it would lay off 4% of its work force.
Twitter is still locked in negotiations with SpaceX and Tesla CEO Elon Musk over a potential $44bn buyout. Twitter’s stock price slipped by four percent today amid reports that the deal with Musk may be in peril, amid continuing disputes between the parties on the number of bot and spam accounts on the platform.
Musk, a self-proclaimed “free speech absolutist,” announced his takeover bid earlier this year. Musk’s offer was accepted by the Twitter board at the end of April, but the deal has yet to be executed. If Musk walks away from the deal over the bots issue or anything else, he may be liable for a billion-dollar breakup fee.
Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.
COMMENTS
Please let us know if you're having issues with commenting.