SAN FRANCISCO (KRON) -- San Francisco-based Twitter laid off 10 percent of its employees Saturday night in an attempt to cut costs since Elon Musk's takeover, the New York Times reported.
The layoffs impacted about 200 employees out of the 2,000 left at the social media company.
The New York Times reported that former employees were locked out of their corporate emails as well as the company's internal messaging system ahead of the layoffs on Saturday night.
NYT reported that not only were Twitter project managers, data scientists and engineers and monetization services teams impacted by the job cuts, but also a number of founders of smaller companies Twitter had acquired over the years.
This set of layoffs comes after a layoff announcement in November 2022 that impacted more than half of its employees, about 3,700 at the time.
Musk initiated the buyout of company shareholders for $44 billion in April 2022 and concluded it by October 2022. Since the acquisition, Twitter's ad sales, its most profitable stream of revenue, has seen a decline as advertisers pull out.
As Musk became the sole owner of Twitter after the buyout, the company is no longer publicly traded.
Twitter is among a stream of tech companies that have announced layoffs in 2023, many citing a need to correct staffing in a post-pandemic world.
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