Twitter has fired a third of its talent acquisition team, according to the Wall Street Journal. While not only contributable to the turmoil and cancelling of Elon Musk’s acquisition of the company, it is a major driver of the decision. The company hasn’t announced how drastically their hiring plans have changed, but it is obviously significant to lay off a third of its hiring team.
Read: Competition: Sony SRS-BTV5 Bluetooth Speaker Giveaway
Several months ago Twitter announced a partial hiring freeze as part of a broader attempt to cut costs as it attempts to finalise its acquisition by Elon Musk. However, the company had clearly planned to hire a large amount of people to have now fired such a large numbers of recruiters.
Ingrid Johnson, a senior technical recruiter at Twitter, wrote that it was “a really tough day.” “There are people losing their jobs that have been there over a decade,” she wrote. “If Twitter has chosen to spend potential billions suing Elon and maintaining a falsely inflated stock price at the expense of the people who gave their lives building the company— that is an even more tragic story.”
Of course, global economic circumstances have regressed significantly in 2022 and this would also be a major contribution to Twitter’s decision to hire a lot less people for the rest of the year and into 2023. Meta recently said it would slow its hiring as it faces “serious times.” Netflix, Unity, Coinbase and Paypal have all recently cut jobs as well.
Coinbase CEO Brian Armstrong first blamed changing economic conditions that may lead to a “crypto winter” and waited until his third bullet point to mention that the company has “over-hired,” citing its attempt to take advantage of “new use cases enabled by crypto getting traction practically every week.”
