It has been periods since Elon Musk took over Twitter and fired nearly half of the workforce in November 2022, causing a massive layoff wave in the global tech sector. Among the top executives who resigned was ad sales chief Robin Wheeler, and spending on advertising on Twitter fell by 70% in December 2022. Twitter reportedly decided to fire more people from its sales team after ad revenue fell even further in January. Although the exact number of sales professionals employed is unknown, the department employed 800 people as of last month.
The disclosed job cuts arrived after the sales staff was last reduced in November 2022 and are motivated by cost-cutting measures. In India, 90% of Twitter’s 200-person workforce has been laid off, and two out of three offices have closed. Despite being smaller than Google and Meta’s layoffs, Twitter laid off 4,000 people. This includes employees who were fired for publicly criticising Musk and for a decrease in engagement with his tweets. Apart from Twitter, all of the major tech companies have joined the layoff wave, and while Apple has remained resilient, it has fired third-party contractors without hoping for their contracts to expire.
ABOUT AD REVENUE
Advertising revenue is the monetary income individuals and businesses earn from the placement of paid advertisements on their websites, social media channels, or other platforms surrounding their internet-based content. You can earn ad revenue by having popular content for companies to pay for ad space.
When visitors to your website or viewers of your content click on or interact with the advertisement, you are frequently compensated. Generally, a website’s ad revenue is heavily influenced by the number of monthly page views. Here are some starting point benchmark ranges: Monthly page views of 500K: $1,000 – $5,000.
ABOUT TECH LAYOFFS
A Naukri.com survey found that there will be fewer layoffs in the first half of 2023 but that ‘IT roles and senior professionals will be the most impacted’. According to the survey, Indian employees are expected to receive significant raises this year, some by as much as 20%, according to data compiled by Layoffs. FYI, a website tracking tech layoffs since March 2020, 297 tech companies laid off nearly 95,000 workers since the start of the year. If this trend continues, the industry could lose over 900,000 jobs by 2023.
Many companies will first lay off employees who have been with the corporation for the shortest time. If this is your situation, there is little you can do to improve it.
