Shulou(Shulou.com)11/24 Report--

Beijing, Nov. 5 (Xinhua) Twitter has launched a process of massive layoffs, and thousands of people are expected to lose their jobs. Elon Musk, Twitter's new boss, defended the company's revenue as advertisers fled the social network.

Musk began to receive layoff notices in Twitter employees' inboxes from Friday, local time. "Today is your last working day at the company." The global layoffs are expected to affect 3700 jobs, accounting for about half of the company's workforce. Some outgoing employees said they would receive at least two months' severance pay. Musk is also looking for places in Twitter's technology infrastructure where layoffs can be made.

Musk said Twitter revenue fell sharply. Musk tweeted on Friday to defend the decision to cut jobs. He said pressure from activist groups led advertisers to suspend spending on Twitter, leading to a sharp drop in Twitter revenue. "even if we don't make any changes in content censorship, and do everything we can to appease these activists. Extremely chaotic! they are trying to destroy freedom of speech in the United States." Marc said.

Mr Musk did not specify how much revenue the company had lost as advertisers fled, or how he blamed the loss on pressure from activist groups. For now, big companies, including General Mills, Audi and General Motors, have said they will temporarily stop spending on Twitter and see what happens when Musk takes the helm of Twitter.

According to Twitter executives, Musk has laid off about half of his staff across the company.

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