Twitter purging up to 336 workers
SAN FRANCISCO – Twitter is laying off up to 336 employees, signaling CEO Jack Dorsey’s resolve to slash costs while the company struggles to make money.
The cutbacks announced Tuesday could equate to about 8 percent of Twitter’s workforce of 4,100 people.
The purge comes two weeks after Twitter brought back one of its co-founders as permanent CEO in hopes that Dorsey would be able to resolve problems that have slowed user growth at the messaging service and compounded an uninterrupted cycle of financial losses.
Cutting costs can boost profits but at Twitter, it has also raises uncertainty about the future, the company’s pursuit of faster growth and its ability to attract a bigger audience.
The layoffs may be a sign of desperation at a sinking company, said Edison Investment Research analyst Richard Windsor.