Reports have surfaced that suggest Twitter will be making company-wide layoffs possibly next week. Multiple sources tell Re/code that newly-installed chief executive Jack Dorsey is looking to trim the staff of about 4,200 employees. A company spokesperson declined to comment.
There’s no indication right now about how big the layoffs will be, but it’s said that every department will be affected.
It’s possible that Twitter is looking to create a leaner and more agile workforce, perhaps in an effort to make more people accountable to their products. Although the company did okay in terms of revenue in the last quarter, it’s still struggling in terms of getting user adoption. At the time, then-interim CEO Dorsey expressed disappointment and stated that in order for Twitter to realize its full potential, it needed to improve in several areas, one of which is having a “more disciplined execution.”
After being named permanent CEO, in a conference call with investors, Dorsey said that product roadmap was among his top priorities. After all, if you don’t have a solid product, why are people going to use it? He did remark that in order to have the best talent, the roadmap really needed to sing and that everyone was behind. It’s this philosophy that Dorsey’s executive team will likely use to part with some employees.
News of layoffs comes at the end of an active week for Twitter. Not only did Dorsey ascend to the top position within the company, but soon after Project Lightning became a reality launching as Moments, and then new video ad features became available. Now it appears time for Dorsey to reflect on what he wants his Twitter to look and behave like.
Shares in Twitter closed at $30.84, but have currently dropped 2.74 percent in after-hours trading.
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