Musk commences Twitter job cuts as advertisers hit pause

Twitter Inc. plans to start cutting staff Friday, the company said in an email to employees.

Billionaire Elon Musk plans to eliminate half of Twitter’s workforce, making good on plans to slash costs at the social media platform he acquired for $44 billion last month, people with knowledge of the matter have said.

“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 management said in an email reviewed by Bloomberg. “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 going forward.”