According to multiple reports, Elon Musk's takeover of Twitter has resulted in a 90% reduction in the company's workforce, with just 1,000 full-time employees remaining.
What the Numbers Mean
Earlier this year, when Elon Musk acquired Twitter, it set off a series of cost-cutting measures that resulted in a significant reduction in the social media giant's workforce.
According to Business Insider, Twitter currently employs around 1000 full-time workers, which is considerably fewer than the 1500 employees Musk initially reported.
However, sources suggest that the actual number of employees may be even lower, especially when factoring in contract workers.
This means that Twitter's workforce has been reduced by nearly 90 percent since Musk took over earlier this year. Hundreds of workers had already left before the layoffs, leaving the company with around 500 engineers.
Fox News tells us that the few remaining employees are said to be constantly under pressure to meet changing demands and put out fires, with performance reviews being conducted regularly.
People familiar with the matter also reported that firings are common after weekly employee reviews, with little to no explanation given.
What the Low Headcount Means for Twitter
During the peak of Musk's initial large-scale job cuts in October 2022, many experts predicted that these widespread layoffs would significantly impact millions of users and the social network's data security and content moderation arms.
Forbes further underscores that the company's intended reduction in workforce involves crucial infrastructure, including data centers.
This could complicate data protection measures and make it more challenging to safeguard against security risks for the estimated 200 million daily active Twitter users.
When asked about the layoffs, Musk said in an interview with BBC News in April that "the issue is like the company's going to go bankrupt if we do not cut costs immediately." He added that it was not an uncaring situation but rather a matter of ensuring the company survives.
Last year, Musk expressed his aspiration to attract a billion or more Twitter users over time, as reported by The New York Times.
However, Jack Dorsey, the founder of Twitter, who had previously expressed his trust in Musk, has recently criticized the direction of Twitter and Musk's leadership.
When asked whether Musk had proven himself to be the best possible steward for the platform, Dorsey responded with a firm "No."
He also criticized Musk for managing the situation after realizing that the timing was bad, adding that he did not think the board should have forced the sale.
What's In the News
Elon Musk's acquisition of Twitter has led to a massive downsizing of the company's workforce, with hundreds of employees left or been laid off.
Despite these measures, Twitter's monetizable daily active users have continued growing, with the platform now boasting over 350 million users. It is worth noting, though, that the platform is expected to lose 4 percent of its users this year.
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