According to technology news websiteRe/code, Twitter is planning company-wide layoffs next week. The news comes on the heels of Jack Dorsey, Twitter’s former interim CEO, becoming itspermanent CEOon Monday.The news comes after Jack Dorsey wasappointedpermanent chief executive on Monday.It is unclear how many of Twitter’s staff will be laid off, but it is likely it will affect most departments,Re/code said, citing company insiders.The company employs about 4,100 people in more than 35 offices around the world, according to its website.Twitter shares fell 3.1 percent to$29.90 in extended trading on Friday.The company is working to rekindle growth after its latest quarterly results in July revealed the slowestrise in monthly average users sinceit went public in 2013 - a performance that Dorsey at the time called “unacceptable.”Twitter’s layoffs come at the sametime as it restructures its engineering organisation to make itmore efficient, Re/code reported.It is likely that many of the people impacted by the layoffs will be engineers, the report said.“We’re not commenting on rumour and speculation,” a Twitter spokeswoman told Reuters.Up to Friday’s close, Twitter’s shares had fallen about 14 percent this year.
source :- ht
http://m.hindustantimes.com/tech/tw...week-report/story-Nhj7nHWAf0uxQfcllou2KN.html
source :- ht
http://m.hindustantimes.com/tech/tw...week-report/story-Nhj7nHWAf0uxQfcllou2KN.html
