Twitter Reportedly Expecting Layoffs Next Week

A Twitter spokesman 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.

Twitter is planning something ahead with its new CEO Jack Dorsey on the steering.

The Chief Executive Officer just started his new job with the social media site and there’s already talk about layoffs. Those sources did not specify numbers or percentages of staff, but they did point to Twitter’s plans to “restructure” its engineering staff, which may affect how the alleged firings play out in all. That’s a swift action plan by Mr. Dorsey, 38, who is also a co-founder of Twitter. Chief executive Dorsey ran in Twitter in 2007 to 2008 and served as a interim of chief executive for the third quarter after the Dick Costolo as resigned in the month of June.

Speculation about the move comes just days after Twitter announced that cofounder Jack Dorsey would take over as the permanent CEO, following a lengthy search.

The reason? According to numerous reports, Twitter is allegedly going to tighten up operations starting next week, and layoffs are allegedly a part of the grand plan. The expansion would have given Twitter around 100,000 or so more square feet to work with.

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.

Twitter shares fell 3.1 per cent to $29.90 in extended trading on Friday.

“We’re working hard at Twitter to focus our roadmap on a few things we can make really great”.

Dorsey, they say, “isn’t afraid to make the tough, necessary decisions”, and that’s why he was brought back on as CEO.