Following the news that Twitter interim CEO Jack Dorsey was fully hired to the post on Monday, the company has been linked to a series of what Re/code has described as “company-wide layoffs” next week. According to Re/code, this includes cutting staff across the company – starting next week. It is unclear how many employees will be affected by the move to downsize.
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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.
Jim Prosser, a Twitter spokesman, declined to comment.
The layoffs would come one week after Twitter co-founder Jack Dorsey was appointed CEO. He then outlined plans to improve the Twitter product in a way that would simplify the service and better communicate its value to consumers.
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The company is working to rekindle growth after its latest quarterly results in July revealed the slowest rise in monthly average users since it went public in 2013 – a performance that Dorsey at the time called “unacceptable”. Twitter’s user base has grown less than 50 percent in that time. And now the company appears to be making a direct pitch to Wall Street that it can be more tightly managed.
