Twitter Layoffs Coming After Jack Dorsey Takes CEO Job (Report)
The San Francisco social media company is also said to be restructuring its engineering team.
One of new Twitter CEO Jack Dorsey's first moves will be layoffs at the San Francisco company, according to a report in Re/Code.
The layoffs, said to be company-wide, come as Twitter is restructuring its engineering organization, according to the report. It is unclear how many employees will be affected by the move to downsize. A Twitter spokesman tells The Hollywood Reporter that the company is "not commenting on rumor and speculation."
Twitter has grown large since it was founded in 2006. Last quarter, the company reported that it employs approximately 4,100 people, a 24 percent increase year over year. But Dorsey, who assumed the full-time CEO job on Oct. 5, has said that the company needs to become more focused.
Dorsey — who had been acting as interim CEO since July, when Dick Costolo stepped down from the role — spoke on the company's second quarter earnings call in July and noted that the company's stagnant user growth was "unacceptable and we're not happy about it." He then outlined plans to improve the Twitter product in a way that would simplify the service and better communicate its value to consumers.
One project he has been especially vocal about is Project Lightening, which Twitter debuted on Oct. 6 as a new feature called Moments, which aggregates Tweets based on stories that are unfolding live on the platform. On Friday afternoon, Moments had stories about Selena Gomez, Jeb Bush and President Barack Obama's visit to Roseburg, Oregon.
Under new leadership from Dorsey, Twitter has reorganized some of its top brass, appointing Twitter revenue and partnerships president Adam Bain as COO.