After finally naming co-founder Jack Dorsey as permanent CEO this week, Twitter is reportedly preparing for layoffs.
The microblogging giant will make cuts across most, if not all departments next week, according to a report by tech news site Re/code, citing anonymous sources. It’s unclear, however, how many employees will be let go.
Last quarter, Twitter reported a total workforce of about 4,200, more than double the 2,000 it had before its IPO in November 2013.
Twitter (TWTR) is also reportedly planning to restructure its engineering departments, according to Re/code’s sources. Twitter’s engineers make up about half of the company’s employees, and will likely make up a significant portion of next week’s cuts.
Investors have long argued that Twitter’s staff has grown too big in the face of flat user growth in the last few quarters and only modest sales gains. Twitter has also struggled to find and execute on a cohesive vision.
When reached for comment, a Twitter spokesperson told Coins2Day that it’s “not commenting on rumor and speculation.”
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