Twitter says it significantly slowed hiring during the second quarter

Twitter says it significantly slowed hiring during the second quarter


The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022.

Brendan Mcdermid | Reuters

Twitter said on Tuesday that the company “significantly slowed hiring” in the second quarter.

The company disclosed the hiring slowdown in its second-quarter earnings filing with the Securities and Exchange Commission that cited a need to manage its cost structure “in light of the current macroeconomic environment.”

“We significantly slowed hiring in the second quarter of 2022 and are being more selective about the roles that we are filling, and we have simultaneously seen our attrition rate increase,” the company said. “We have also reduced non-labor spend in areas such as travel and marketing.”

In May, Twitter imposed a hiring freeze amid the departures of the company’s head of consumer, Kayvon Beykpour, and revenue product chief Bruce Falck.

Twitter reported poor second-quarter financial results last week that missed on the top and bottom lines and user growth. Its sales declined 1% year over year to $1.18 billion, which the company attributed to a weak macroeconomic environment and the related online advertising market.

In addition, the company blamed its sales decline to “uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk.”

In October, Twitter is slated to face Musk in a Delaware court in an effort to enforce the Tesla CEO’s $44 billion offer to acquire the company.



Source

Crypto wobbles into August as Trump’s new tariffs trigger risk-off sentiment
Technology

Crypto wobbles into August as Trump’s new tariffs trigger risk-off sentiment

A screen showing the price of various cryptocurrencies against the US dollar displayed at a Crypto Panda cryptocurrency store in Hong Kong, China, on Monday, Feb. 3, 2025.  Lam Yik | Bloomberg | Getty Images The crypto market slid Friday after President Donald Trump unveiled his modified “reciprocal” tariffs on dozens of countries. The price […]

Read More
Tesla must pay 9 million in damages after fatal Autopilot crash, jury says
Technology

Tesla must pay $329 million in damages after fatal Autopilot crash, jury says

Tesla vehicles are parked outside of a dealership on July 24, 2025 in Austin, Texas. Brandon Bell | Getty Images A jury in Miami has determined that Tesla should be held partly liable for a fatal 2019 Autopilot crash, and must compensate the family of the deceased and an injured survivor damages of $329 million. The […]

Read More
Palantir lands  billion Army software and data contract
Technology

Palantir lands $10 billion Army software and data contract

Alex Karp, CEO of Palantir, attending the annual Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 9, 2025. David A. Grogan | CNBC Palantir has inked a contract with the U.S. Army worth up to $10 billion to meet growing warfare demands over the next decade. As part of the […]

Read More