Two months into a hiring freeze across the board, Twitter let go of 30% of its talent acquisition staff. A spokesman for Twitter acknowledged the layoffs but would not specify how many staff were affected.
The corporate spokesman also stated that employees will receive severance compensation and that due to the fall in hiring, the remaining recruitment team will be given new priorities. Except for the most important positions, Twitter is halting the majority of hiring and backfilling.
Hiring restrictions are common during periods of significant acquisition transactions, but aside from Elon Musk’s upcoming $44 billion acquisition of Twitter, the marginally profitable social media site has been experiencing unstable financial conditions. Over 30,000 software workers are thought to have lost their jobs in the last two months, and social networks aren’t exempt from the market downturn. In a period of economic turmoil, rivals like Snap and Meta have also taken precautions to manage their overhead. Just last week, Mark Zuckerberg, CEO of Meta, advised staff to get ready to work more with less resources.
Musk stated that he isn’t worried with what title he would have at the company, but that he wants to be substantially involved in product, during a recent all-hands call with Twitter employees. In reaction to the macroeconomic situation, Twitter employees raised concerns about future layoffs at that meeting.