Twitter informed employees that the company will start laying off staff from Friday, several media outlets said, APA reports citing Teletrader.
"In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday," Twitter told employees in an email. "We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward," it added.
The move comes after the world's richest man Elon Musk bought the company for $44 billion and decided to take it private. An earlier report claimed Musk transferred over 50 employees from his electric carmaker Tesla Inc. to Twitter following the acquisition.