Posted on 10/10/2015 11:15:08 AM PDT by 2ndDivisionVet
Jack is back and he's bringing company-wide layoffs with him.
Twitter is said to be planning to announce layoffs across most departments of the company next week, according a report late Friday from Re/code. The precise number or percentage of staff affected is unclear.
"We’re not commenting on rumor and speculation,” a spokesperson for Twitter told Mashable.
Speculation about the move comes just days after Twitter announced that cofounder Jack Dorsey would take over as the permanent CEO, following a lengthy search. While the layoffs will almost certainly hit company morale, it should appease investors eager to see Twitter rein in costs and boost its profitability.
Laying off staff and cutting costs could also make Twitter more desirable to potential acquirers, even as top execs at the company insist it will remain independent.
Twitter has more than 4,100 employees spread across three dozen offices worldwide, half of which are engineers who often need to be compensated quite well to compete with the big tech companies and fast-growing number of billion-dollar unicorns. Twitter has been criticized in the past for handing out excessive stock bonuses to staff while struggling to reach profitability.
Since officially taking over as permanent CEO this week, Dorsey and Twitter have moved fast to change the company's negative narrative on Wall Street, which has long punished the stock in the face of stalling user growth.
On Tuesday, Twitter rolled out a radically new feature called Moments to help casual or hesitant users discover content on the social network. On Thursday, Dorsey gave his first public appearance to court advertisers with new video ad tools. And now the company appears to be making a direct pitch to Wall Street that it can be more tightly managed.
I can understand 100 employees...but 4100?
I have an ex-StepDaughter who I love and respect as a person, but she is obsessed with Facebook and feels some need to post every little thing she does during the day.
I especially have a problem with Twitter. It provides the opportunity for every anonymous dipsh*t to post things they would never say face to face. Social media also provides the sickos the forum to fulfill their fantasies by enticing the young innocents into situations that turn out bad.
Then there is Instagram that the clueless young post their pictures of their stupid behavior, that they often regret.
Hopefully his second is to hire better coders.
Oldest trick in the book and the EASIEST short term win: reduce manpower costs through layoffs. It also shows no leadership, creativity, and long-term strategy.
This guy needs to be focusing on how Twitter is going to generate revenue when many potential users do not understand the tool, and many have abandoned Twitter
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