Twitter Freezes Hiring and Cuts 30% of HR Department Staff Following Hiring Freeze

[Image source=AP Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Twitter, which has frozen new hires, has launched a large-scale layoff centered on the HR department.

The Wall Street Journal (WSJ) reported on the 8th (local time) that Twitter recently laid off 30% of its HR-related staff. Consolidation and reduction of related tasks are also underway.

This appears to be a decision made after Elon Musk, Tesla CEO, took over and froze new hiring while cutting various costs, determining that it was necessary to reduce the size of the departments handling related tasks.

Earlier, Parag Agrawal, Twitter CEO, announced in an internal memo to employees that new hiring and filling vacancies would be suspended unless there was a significant business need. Twitter is also cutting operating costs such as external consulting, sales activities, and employee business trips.

CEO Musk has also supported the layoffs, stating that "it is necessary to rationally adjust personnel and costs." However, Musk is currently hinting at the possibility of contract termination, citing the status of fake accounts on Twitter.

On this day, Twitter's stock price on the New York Stock Exchange closed down 5.10% compared to the previous session due to concerns over the layoff news and the possibility that Musk's acquisition might fall through.

This content was produced with the assistance of AI translation services.