That was fast. Twitter is planning company-wide layoffs, with the cuts likely to affect most, if not all, departments. That’s according to Re/code.
The move comes less than a week after Jack Dorsey was named permanent CEO of the microblogging platform.
According to Re/code, Twitter reported roughly 4,100 employees last quarter, more than double the roughly 2,000 employees it had in Q2 2013 just before the IPO. However, Twitter’s user base has grown less than 50 percent in that time.
The bulk of the cuts may come from the engineering department, which makes up about half the staff, according to Re /code.
Dorsey takes charge of Twitter at a critical time. Twitter’s user base has started to stagnate, while its stock price continues to decline.
In Monday afternoon trading, Twitter’s stock was down about 2 percent, to roughly $28.
Also on tap for Dorsey: Creating more effective ad vehicles for marketers. Right now, Google and Facebook maintain the lion’s share of online advertising budgets.
(Update: Twitter said Tuesday it would jettison up to 336 people. or roughly 8% of its workforce, as part of a restructuring CEO Jack Dorsey says will place the social network "on a stronger path to grow," per USA Today.)
What if companies could harness the fury of online outrage into a force for good? This is precisely where companies can start turning the trolls into brand champions.
Audiences interacted with brand content far more often on Facebook and Instagram in 2023 than they did via X (formerly Twitter), according to a report that tracked engagement trends across different social networks.
Can public relations help counteract the dissension fostered by the power of digital platforms to spread hate, fear and confusion?
The number of Americans who get their news from TikTok has quadrupled in the last three years, according to a recent Pew Research Center report.
Have a comment? Send it to 
No comments have been submitted for this story yet.