News

Twitter job cuts a concern as new EU rules kick in, EU justice head says

Twitter job cuts a concern as new EU rules kick in, EU justice head says By Reuters

Breaking News

‘;

Economy 10 minutes ago (Nov 24, 2022 22:16)

© Reuters. FILE PHOTO: Twitter corporate headquarters building is seen in downtown San Francisco, California, U.S. November 21, 2022. REUTERS/Carlos Barria/File Photo

By Foo Yun Chee

BRUSSELS (Reuters) – Twitter’s decision to shut down its Brussels office and the laying off of thousands of employees are drawing concerns on whether the company can comply with new tough European Union rules against illegal online content, EU justice chief Didier Reynders said on Thursday.

Reynders, who met with Twitter representatives at the social media platform’s European headquarters in Dublin, sought clarifications from the company, a European Commission official told Reuters.

“Twitter representatives reaffirmed the commitment of the company to ensure full compliance with EU rules. Commissioner Reynders took note of it and asked Twitter to translate this commitment into concrete measures,” the official said, speaking on condition of anonymity.

The new rules known as the Digital Services Act, which will apply from February 2024, require online platforms to do more to police the internet for illegal content or risk fines as much as 6% of their annual global turnover.

Twitter has fired top executives and enforced steep job cuts with little warning following billionaire Elon Musk’s tumultuous takeover of the company last month. About half of the workforce – around 3,700 employees – has been laid off while more than 1,000 have resigned.

Twitter’s last two Brussels-based employees are no longer with the company, a person familiar with the matter told Reuters, speaking on condition of anonymity. The team, which interacted with Commission officials on policy and regulatory issues, had originally numbered six people.

Reynders also warned Twitter and other tech companies to do more to tackle online hate speech after the latest data showed they had removed less content this year than in previous years.

Twitter job cuts a concern as new EU rules kick in, EU justice head says

Marketmind: PMI, PMI babyBy Reuters – Nov 24, 2022

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets are looking to round off the week on a positive note on Friday, with…

Italy cash payments plan breaks spirit of EU accord, expert saysBy Reuters – Nov 24, 2022

By Giuseppe Fonte and Gavin Jones ROME (Reuters) – A proposal in Italy’s draft budget is not in line with its previous commitments to incentivise electronic payments as a way to…

Real estate stocks power Europe’s STOXX 600 to fresh three-month highBy Reuters – Nov 24, 2022

By Sruthi Shankar and Devik Jain (Reuters) -Europe’s STOXX 600 index closed at a fresh three-month high on Thursday led by gains in real estate stocks after minutes from the…

Our Apps



Terms And Conditions
Privacy Policy
Risk Warning

© 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published.

More in:News