Twitter Said to Have Company-Wide Layoffs Next Week
Twitter is planning company-wide layoffs for next week, according to a Recode report based on multiple unnamed sources. These layoffs will affect most, or possibly even all departments of the company, according to the report.
The news comes just days after Twitter announced that co-founder Jack Dorsey will lead the company as its new permanent CEO.
Twitter currently employs around 4200 people, and had originally planned for significant staff expansions for the coming months. The company was looking to lease as much as 100,000 square feet of additional office space near its San Francisco headquarters, but canceled these plans earlier this month.
Twitter has been struggling in recent month with a slowing momentum, with the number of monthly active users essentially flatlining in the U.S. The company wants to win over additional users with a new feature called Moments that it launched earlier this week, but executives have been frank about the fact that it will take some time for new initiatives to have any significant impact.
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