‘Twitter Is Slashing 8 Percent of Its Workforce’ – ‘Entrepreneur’ Blog
Entrepreneur team says, “Twitter Inc said it would lay off up to 336 employees, or about 8 percent of its global workforce, as part of a plan to streamline operations.
The layoffs, mainly in the company’s product and engineering functions, come about a week after the microblogging service provider appointed co-founder Jack Dorsey its permanent chief executive.
“We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey said in a letter to employees. “And the rest of the organization will be streamlined in parallel.”
Shares of Twitter, which had about 4,100 employees globally as of June 30, rose 1.5 percent to $29.18 in premarket trading on Tuesday“.
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