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Twitter likely to layoff staff after Monday

Sat, Oct 10, 2015, 03:31 PM
Hyderabad, Oct 10: The San Francisco-based online social networking service Twitter Inc is likely to layoff employees company-wide some time next week, sources said.

The news comes after Jack Dorsey has been appointed permanent chief executive five days ago.

However, it is still not clear as to how many employees will be removed. There are indications that most of the company's departments could be impacted, sources said.

As of now the company has 4,100 employees working in 35 offices spread across the world, sources said.

On Friday, the company's shares dropped 3.1 per cent to settle at 29.90. The company's July's quarterly results revealed the slowest increase in the monthly average users since it went public in 2013. The company is making an effort to rekindle growth after Dorsey said it was 'unacceptable'.

Sources also said, most of the employees to be laid off are likely to be engineers. Twitter, however, refused to comment on "rumour and speculation."
Agency: Ap7am Desk

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