According to The Hollywood Reporter (THR), layoffs are coming to Twitter. As Jack Dorsey takes the helm as CEO, one of the first things taking place at the social media giant is a series of layoffs.
THR’s Natalie Jarvey reports:
The layoffs, said to be company-wide, come as Twitter is restructuring its engineering organization, according to the report. It is unclear how many employees will be affected by the move to downsize. A Twitter spokesman tells The Hollywood Reporter that the company is “not commenting on rumor and speculation.”
Twitter has grown large since it was founded in 2006. Last quarter, the company reported that it employs approximately 4,100 people, a 24 percent increase year over year. But Dorsey, who assumed the full-time CEO job on Oct. 5, has said that the company needs to become more focused.
Dorsey — who had been acting as interim CEO since July, when Dick Costolo stepped down from the role — spoke on the company’s second quarter earnings call in July and noted that the company’s stagnant user growth was “unacceptable and we’re not happy about it.” He then outlined plans to improve the Twitter product in a way that would simplify the service and better communicate its value to consumers.”
Dorsey is co-founder of Twitter and as CNN reported on Oct. 5, “investors had been calling on the company’s board to appoint co-founder Dorsey as permanent CEO since July 1.”
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