BREAKING: Twitter on Saturday launched a monthly subscription service for $7.99 that includes a blue check now given to verified accounts as new owner Elon Musk overhauls the platform's verification system just ahead of U.S. midterm elections.
A week after Elon Musk's takeover of the company, Twitter began layoffs on Friday that will cut roughly half of its 7,500-person workforce.Twitter on Saturday launched a subscription service for $7.99 a month that includes a blue check now given to verified accounts as new owner Elon Musk overhauls the platform's verification system just ahead of U.S. midterm elections.
The update Twitter made to the iOS version of its app does not mention verification as part of the new blue check system. The change comes a day after the company began laying off workers to cut costs and as more companies are pausing advertising on Twitter as a cautious corporate world waits to see how it will operate under its new owner.Activists put pressure on advertisers to drop Twitter ads over Musk takeover, employee layoffs
Twitter co-founder Jack Dorsey on Saturday took blame for the wide job losses. He had two runs as CEO of Twitter, with the most recent stretching from 2015 into 2021. Meanwhile, Twitter has already seen "a massive drop in revenue" because of pressure from activist groups on advertisers to get off the platform, Musk tweeted Friday. That hits Twitter hard because of its heavy reliance so far on advertising to make money. During the first six months of this year, nearly $92 of every $100 it made in revenue came from advertising.
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