Twitter Lays Off Nearly 30% Employees Of Recruiting Team

(RTTNews) - Twitter Inc. has laid off 30% of its recruiting team, that comes to around 100 employees, The Wall Street Journal reported. The job cut comes as the social media giant is preparing cost cuts amid the $44 billion takeover deal by billionaire entrepreneur Elon Musk.

The company in May had announced its plans to pause hiring as part of cutting costs.

CEO Parag Agrawal had said earlier that the company was managing costs in a very challenging macro environment. In May, the company had fired Consumer division head Kayvon Beykpour and revenue product lead Bruce Falckd.

It was in late April that Twitter agreed to accept Musk's offer for $54.20 per share in cash and to become a privately held company.

However, in May, Musk put the Twitter acquisition on hold, demanding further information about spam and fake accounts on the microblogging site. Musk then said he suspected that they make up at least 20 percent of users, while Twitter continued to admit that spam/fake accounts represent only about 5 percent of users.

However, later, Twitter complied with Musk to provide him access to the data he asked for.

This week, Twitter officials reiterated that spam accounts make up less than 5% of the company's daily monetizable users.

Meanwhile, Twitter's board of directors in mid June had unanimously recommended that its shareholders vote in approval of the merger.

The deal is currently expected to close in 2022.