Twitter is laying off a third of its talent acquisition team

CONSUMER ALERT. ELON MUSK IS ON THE VERGE OF BUYING THE SOCIAL MEDIA NETWORK TWITTER. BUT HOW WILL THAT AFFECT USERS JOINING US LIVE THIS MORNING WITH MORE INFORMATION IS JED. JESLIN. HE IS THE EXECUTIVE DIRECTOR OF PLANET. GOOD MORNING. THANKS FOR JOINING US. GOOD MORNING. HOW ARE YOU? GOOD MORNING. SO WHAT IMPACT DO WE THINK? THIS WLIL HAVE ON THE SOCIAL MEDIA SITE? I THINK THERE COULD BE A LOT OF IMPACT AND INTERESTINGLY, YOU KNOW TWITTER LAUNCHED IN 2006 AND ONLY6 1 YEARS LATER. IT’S BEING SOLD FOR 44 BILLION DOLLAR. SO OBVIOUSLY THERE ARE A LOT OF USERSND A REGARDLESS OF ANYONE’S INDIVIDUAL OPINION ABOUT TWITTER. THE FACT ISHA TT IT’S BECOMING HUGE ELYFFECTIVE COMMUNICATION TOOL ALL OVER THE WORLD TALKING ABOUT IMPORTANT STOESRI AND SOMETIMES TRIVIAL THINGS BIG PICTURE ELON MUSK GOALS I THAT HE WANTS TO PROMOTE FREE AND TRANSPARENSPT EECH. SO THAT’S KIND OF MAIN MESSAGE SOAR F AND WHYRE A SOME PEOPLE THINKING THAT’S A BAD THING? I THINK SOME PEOPLE ARE THINKING THEY MIGHT BE CHARGED FEES NUMBER ONE JEN. ALSO USER AUTHENTICATION IS GOING TO BECOME A BIG DEAL AND CONTENT MODERATION IS A BIG TOPIC ACROSS SOCIAL MEDIA AND LIKE I SAID, HE IS PROMOTING FREE SPEECH HE SAYS, BUT THAT MEANS COULD MEAN LIFTING BANDS IT COULD MEAN CHANGING THE WAY THAT PEOPLE ARE ABLE TO SPEAK AND IT ALSO MEANS OPENINGP U THE ALGORITHM. HE SAYS WHICH MEA MNSAKING IT POSSIBLE FOREO PPLE TO SEE HOW THINGS ARE BEING MODEREDAT AND IF THEY ARE AND AND YOU KNOW, TRUTHFULLY THERE’S ARGUMENTS ON BOTH SIDES, BUTHE T ARGUMENT FOR THAT IS MAYBE THAT’S NOT SUCH A BAD THING. YEAH, I TNKHI THATS I AN ARGUMENT. BUT THE MAYBE ONE OF THE PROBLEMS IS THAT MOST USERSRE A PROBABLY NOT REALLY EVEN UNDERSTANDGIN OF AN ALGORITHM IS SO HOW DO THEY REALLY KNOW? WHAT OUT THERE IS TRUE AND WHAT OUT THERE IS NOT SO LET’S TALK QUESTION. I DIDN'’ EVEN KNOW UNTIL TWO MINUTES AGO HOW TO SEE MY LATEST TWEETS UNTIL IEN WT AHEAD AND FOLLOWED ELON MUSK ANDE H ACTUALLY HAD THE DIRECTIONS POSTED RIGHT THERE HOW TO DO THAT. SO I FEEL LIKE MY BRAIN JUST GREW I JUST LEARNED SOMETHING NEW. MORNING, SO WTHA HAS BEEN REALLY THE RESPONSE TO ALL OF THIS BEEN? WELL, REALLY A FIRESTORM. OBVIOUSLY THE REASON YOU AND I ARE TALKING ABOUT ITS I BECAUSE IT IT CONJURES OPINIONS AND PROVOKES OPINIONS. I THINK ONE OF THE BIG THINGS THAT PEOPLE THINK ABOUT NOW IS THAT THERE’S BEEN A HUGE EXPLOSION OF INFORMATION AND NEWS ALL OVER THE WORLD AND THERE’S BEEN A PLUNGE IN ACCURACY AND ACCOUNTABILITY. SO PEOPLE AND BRASND ARE WONDERING HOW THIS IS GOING TO AFFECT THEM AND WHAT THEY NCA MAYBE BELIEVE AND NOT BELIEVE BOYS IN THAT THERU TTH THERE WAS A FAKE STORY THAT RAN ON REDDIT THIS WEEK AND SOME REPUTABLE NEWS AGEIENCS RAN WITH IT. SO YOU DO HAVE TO BE VERY CAREFUL WITH THE INFORMATION THAT’SUT O THERE FOR SURE. SO WTHA WHAT ARE YOUR PREDICTIONS MOVING FORWARD ON THIS BECSEAU THIS ISN’T A COMPLETE DONE DEAL YET,ND A THERE HAS BEEN SOME SOME STALLING IN THIS TAKEOVER. PREDICTIONS ARE THERE WILL BE CONTINUED NEWS AND IT’S REALLY INTERESTING THAT ELON MUSK IS SHARING KIND OF PROVOCATIVE INFORMATION ALMOST DAILY. SOMETIMES HOURLY, AND HE’S SHARING IT THROUGH TWITTER. SO HE HAS MADE SOME SORT OF CRITICAL STATEMENTS ABOUT THE PLATFORM, WHICH MAYBE THEY’LL DRIVE INTEREST IN THE STORY. MAYBE THEY’LL DVERI THE ULTIMATE PRICE DOWN. WHO KNOWS, BUT I THINK PEOPLE NEED TO BE WATCHING THIS BUT ALSO UNDERSTANDING THAT THERE’S GOING TO BE A LOT DAY TO DAY THAT HAPPENS. ALL RIGHT, JED. THANKS SO MUCH FOR JOINING US THIS MORNING. RELYAL APPRECIATE IT.

Twitter is laying off a portion of its recruiting team after previously saying it would pause most hiring. The move comes as Twitter continues to await a pending acquisition by Elon Musk, a process that has been marked by confusion and contention between the social media company and the billionaire Tesla CEO.Several media outlets, including the Wall Street Journal, on Thursday, reported that Twitter would lay off around 30% of its talent acquisition team, fewer than 100 people. A Twitter spokesperson confirmed the layoffs to CNN, saying the reduction was made to account for revised business needs.Twitter said in May — just weeks after Musk agreed to buy the company — that it would halt most hiring and backfills, except for "business critical" roles, and would pull back on other non-labor costs. Several senior executives announced their exit from the company at the same time.Twitter, like other tech companies, has been hit by a downturn in the stock market. The company's shares fell about 4% Friday morning, and are down more than 12% since the start of this year. Twitter's stock trades about 30% below Musk's offer price, reflecting severe doubts about the deal, at least as it is currently proposed.Despite signing a definitive agreement to buy the company in April, Musk has suggested he could try to pull out of the deal over concerns about the number of bots on the platform — reasoning that analysts have suggested could simply be an attempt to create an excuse for exiting a deal that seems overpriced in light of the market downturn. Shares of Tesla, which Musk is relying on in part to finance the deal, have also declined sharply since the Twitter acquisition agreement.The latest twist in the saga came Thursday, when the Washington Post reported that Musk's deal to buy Twitter is in "serious jeopardy" over supposed challenges verifying Twitter's figures on spam accounts, attributed to three people familiar with the thinking of Musk's team. That's despite the fact that Twitter handed over to Musk its "firehose" of data about tweets on the platform after he demanded more information.Earlier Thursday, Twitter held a background call with reporters to explain its process of measuring spam and fake accounts — using both human and automated systems that examine public and private data, such as IP addresses and geolocation data — which it has consistently reported are below 5% of its monetizable daily active users. Musk, citing his own experience on the platform but without any apparent evidence, has estimated it to be much higher.If Musk tries to pull out of the deal, it could lead to a protracted legal battle with the company.

Several media outlets, including the Wall Street Journal, on Thursday, reported that Twitter would lay off around 30% of its talent acquisition team, fewer than 100 people. A Twitter spokesperson confirmed the layoffs to CNN, saying the reduction was made to account for revised business needs.

Twitter said in May — just weeks after Musk agreed to buy the company — that it would halt most hiring and backfills, except for "business critical" roles, and would pull back on other non-labor costs. Several senior executives from the company at the same time.

Twitter, like other tech companies, has been hit by a downturn in the stock market. The company's shares fell about 4% Friday morning, and are down more than 12% since the start of this year. Twitter's stock trades about 30% below Musk's offer price, reflecting severe doubts about the deal, at least as it is currently proposed.

Despite signing a definitive agreement to buy the company in April, Musk has suggested he could try to pull out of the deal over concerns about the number of bots on the platform — reasoning that analysts have suggested could simply be an attempt to create an excuse for exiting a deal that seems overpriced in light of the market downturn. Shares of Tesla, which Musk is relying on in part to finance the deal, have also declined sharply since the Twitter acquisition agreement.

The latest twist in the saga came Thursday, when the Washington Post that Musk's deal to buy Twitter is in "serious jeopardy" over supposed challenges verifying Twitter's figures on spam accounts, attributed to three people familiar with the thinking of Musk's team. That's despite the fact that Twitter handed over to Musk its about tweets on the platform after he demanded more information.

Earlier Thursday, Twitter held a background call with reporters to explain its process of measuring spam and fake accounts — using both human and automated systems that examine public and private data, such as IP addresses and geolocation data — which it has consistently reported are below 5% of its monetizable daily active users. Musk, citing his own experience on the platform but without any apparent evidence, has estimated it to be much higher.

If Musk tries to pull out of the deal, it could lead to a protracted legal battle with the company.

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