Twitter says it significantly slowed hiring during the second quarter

The Twitter logo and trading information is displayed as a trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 3, 2022.

In the second quarter, the company slowed hiring.

In its second-quarter earnings filing with the SEC, the company said it needed to manage its cost structure in light of the current macroeconomic environment.

The company said that they slowed hiring in the second quarter of 2022. Travel and marketing spending has been reduced.

In May, the company imposed a hiring freeze after the departure of its head of consumer, Kayvon Beykpour.

The second-quarter financial results that were reported last week did not meet expectations. The company's sales declined due to a weak macroeconomic environment and the related online advertising market.

The company blamed its sales decline on uncertainty related to the pending acquisition of the social networking site.

In October, Musk is going to be in a Delaware court in an effort to enforce his offer to buy the company.