Twitter reportedly set for layoffs ‘across all departments’

The social media giant has gone through significant changes in the past two years, with acquisitions and aggressive hiring bringing its total workforce to well over 4,000 people worldwide. Plus, many are concerned that Dorsey will lack the focus necessary to turn TWTR around because he’ll be sharing his attention with Square, a payments company that’s expected to go public sometime in the near future, and that also features Dorsey as CEO. Stock prices rose after Dorsey was named CEO, but then slipped when rumors of big layoffs began circulating. Twitter Inc. (NYSE:TWTR) opened at $30.32 per share, down from $30.85 on Friday, and has fallen by almost 5 percent in early trading Monday.

Even Twitter co-founder Evan Williams said he believes Dorsey’s dual CEO roles are not ideal.

Independent tech stock analyst Richard Windsor of Radio Free Mobile says the move confirms TWTR is headed in the wrong direction. The Organization offers products and services for platform and users, advertisers, programmers and info associates. Instead, Twitter continues to tinker with engagement channels and ad options.

Jack Dorsey, who is days into his tenure as the permanent chief executive of Twitter, is planning to implement cost-cutting procedures including layoffs, sources familiar with the plans told the New York Times.

Moments, already garnering positive reviews, is similar to the hashtag filtration by topic, but in a different – and arguably more intuitive and useful – format.

Twitter quickly became a global sensation after its launch in 2006, but the social media platform’s growth has slowed and it has yet to turn a profit. The 1-year stock price history is in the range of $21.01 – $53.49.

The problem facing Twitter management is that adding more tools to enhance its audiovisual capabilities, making it a full-featured platform that would compete with other services in every dimension, could also ruin the simplicity and brevity that made Twitter famous in the first place. The firm had revenue of $502 million for the quarter, compared to analyst estimates of $480.88 million. Argus set a $50.00 price objective on shares of Twitter and gave the company a buy rating in a research note on Friday, June 12th.

As of this writing, Rebecca McClay did not hold a position in any of the aforementioned securities.