(credit: Shawn Campbell)
Following the news that Twitter interim CEO Jack Dorsey was fully hired to the post on Monday, the company has been linked to a series of what Re/code has described as “company-wide layoffs” next week.
A Friday report from Re/code cited “multiple sources” in saying that most of Twitter’s departments will be hit with layoffs starting next week. Those sources did not specify numbers or percentages of staff, but they did point to Twitter’s plans to “restructure” its engineering staff, which may affect how the alleged firings play out in all. When asked to comment on the report, a Twitter representative told Ars that “we’re not commenting on rumor and speculation.”
Dorsey had held the interim CEO post since July 1, but the June announcement that former Dick Costolo would step down did little to move the company’s stock price needle. Only in the past two days has its value come back above $ 30, after dipping below that amount ever since the company’s Q2 2015 financial report at the end of July disclosed a further net loss of $ 137 million and a meager worldwide userbase growth of 15 percent in the past year. That report’s earnings call pointed to a total Twitter staff of “approximately 4,100 employees.”
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