Aim is to discourage extreme levels of data scraping.
"I don't ever like abandoning an audience, it's really important to me that as an organisation we are where people are."
The price of dogecoin, which is typically volatile, was up more than 20% over the past 24 hours, to about 9 cents.
Staff shoudl find out today if they still have a job.
Rapper was suspended for posting anti-semitic comments.
The job cuts are expected in the coming months.
It's just his latest in a series of many clashes with the US Securities and Exchange Commission.
He reportedly wants to tie up less of his own wealth with the deal.
Musk has publicly attacked a number of high-profile Twitter staff.
