Last Update 21:59
Monday, 21 October 2019

Twitter planning layoffs: Report

AFP , Saturday 10 Oct 2015
Twitter
Twitter (Photo: Reuters)
Share/Bookmark
Views: 499
Share/Bookmark
Views: 499

Twitter will lay off employees next week as freshly-returned chief Jack Dorsey pushes for a leaner operation focused on winning users, tech news website Re/code reported Friday.

Layoffs will be spread across the entire San Francisco-based company and will likely include engineers, which account for about half of Twitter's approximately 4,200 employees, according to Re/code.

The job cuts reportedly come as engineering teams are being reorganized at the one-to-many messaging service.

Re/code cited unnamed sources in its report, while Twitter declined to comment on what it referred to as rumor and speculation.

Twitter is betting that the second coming of co-founder Dorsey as chief executive will bring blockbuster growth that has eluded its grasp and disappointed investors.

Dorsey, who had been interim CEO since June, returned permanently to the helm last week while also remaining chief executive of Square, the digital payments firm he founded.

He is returning to Twitter as the company struggles to expand its user base above 300 million people.

Twitter quickly became a global sensation after its launch in 2006, but the social media platform's growth has slowed and it has yet to turn a profit.

Dorsey ran Twitter in 2007-2008 and served as interim chief executive for the third quarter after Dick Costolo resigned in June.

Twitter shares slipped nearly four percent to $29.74 in after-market trades.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.