Twitter's new owner Elon Musk says he had "no choice" but to slash the company's workforce as the firm is losing more than $4m (£3.5m) a day. Half of the company's staff are being let go, a week after Mr Musk bought Twitter in a $44bn (£38.7bn) deal. Twitter staff have been using the platform to talk about their dismissal. There are concerns Twitter could water down content moderation but Mr Musk said the firm's policies remain "absolutely unchanged". An internal email sent to staff earlier on Friday said the mass job cuts were "unfortunately necessary to ensure the company's success moving forward". Staff confirmed on Twitter they had been logged out of work laptops and Slack, a messaging system. A host of major brands have halted advertising spending with Twitter, including Volkswagen, General Motors and Pfizer. Almost all of Twitter's revenue currently comes from advertising, and Mr Musk has been looking for ways to cut costs and make money in different ways from the platform, including plans to charge a monthly subscription fee for users to be verified on the platform.
