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Saturday, October 10, 2015

REPORT: Twitter is laying off a great deal of EMPLOYEES! #HNNMoney


Twitter CEO, Jack Dorsey. (Getty Images)
Twitter CEO Jack Dorsey/Getty Images
After less than a week as Twitter TWTR +0.00% new permanent CEO, Jack Dorsey already has plans for company-wide layoffs,according to a report in the tech blog Re/code.

Citing unnamed sources, Re/code said layoffs at the microblogging site are set for next week. Re/code did not say how many employees would lose their jobs but said the downsizing is expected to affect most, if not all, departments. Twitter most recently reported that it has 4,200 employees.

“We’re not commenting on rumor and speculation,” a Twitter spokesperson told FORBES.

Dorsey told investors on a conference call on Monday that since he assumed the interim CEO position in July, he has been focused on building Twitter’s product roadmap and making Twitter’s internal work flow more disciplined. Dorsey led a reorganization of Twitter’s product team in August.


“There’s a huge desire for more efficiency, and there’s an opportunity to really raise the bar on our execution,” Dorsey said on Monday’s call.

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