{"id":52800,"date":"2015-10-14T05:11:33","date_gmt":"2015-10-14T11:11:33","guid":{"rendered":"http:\/\/www.businesspundit.com\/?p=52800"},"modified":"2020-09-21T13:33:54","modified_gmt":"2020-09-21T17:33:54","slug":"twitter-laying-off-8-of-its-employees","status":"publish","type":"post","link":"https:\/\/www.businesspundit.com\/twitter-laying-off-8-of-its-employees\/","title":{"rendered":"Twitter Laying Off 8% Of Its Employees"},"content":{"rendered":"<p><a href=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009.jpg\"><img decoding=\"async\" class=\"size-large wp-image-52801 aligncenter lazyload\" data-src=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-600x400.jpg\" alt=\"Twitter Layoffs\" width=\"600\" height=\"400\" data-srcset=\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-600x400.jpg 600w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-300x200.jpg 300w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-20x13.jpg 20w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-40x27.jpg 40w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-80x53.jpg 80w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-1000x667.jpg 1000w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-1200x800.jpg 1200w, https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/10\/Jack_Dorsey_-_TechCrunch_Real-Time_Stream_Crunchup_-_2009-683x455.jpg 683w\" data-sizes=\"(max-width: 600px) 100vw, 600px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 600px; --smush-placeholder-aspect-ratio: 600\/400;\" \/><\/a><\/p>\n<p>It&#8217;s official: after much speculation as to how co-founder and newly-appointed permanent CEO Jack Dorsey would remake Twitter, he announced late Tuesday that the company would be laying off 336 employees or 8% of its workforce.<\/p>\n<p>In a memo to employees released on Tuesday, Dorsey said the restructuring plan adopted by the board would focus on the Engineering department while also streamlining the company as a whole.<\/p>\n<p>&#8220;We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,&#8221; Dorsey wrote.<\/p>\n<p>In a tweet, he called the moves &#8220;tough but necessary.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\" lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">Made some tough but necessary decisions that enable Twitter to move with greater focus and reinvest in our growth. <a href=\"http:\/\/t.co\/BWd7EiGAF2\">http:\/\/t.co\/BWd7EiGAF2<\/a><\/p>\n<p>\u2014 Jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/653912031997751296\" target=\"_blank\" rel=\"noopener\">October 13, 2015<\/a><\/p><\/blockquote>\n<p><script src=\"\/\/platform.twitter.com\/widgets.js\" async=\"\" charset=\"utf-8\"><\/script><\/p>\n<p>Dorsey, who had been serving in an interim capacity since the summer, became Twitter&#8217;s permanent chief executive last week in part because, according to\u00a0<em><a href=\"http:\/\/recode.net\/2015\/10\/09\/twitter-is-planning-company-wide-layoffs-for-next-week\/\" target=\"_blank\" rel=\"noopener noreferrer\">Re\/code<\/a><\/em>, &#8220;as a co-founder, Dorsey isn&#8217;t afraid to make the tough, necessary decisions.&#8221;<\/p>\n<p>In his memo, Dorsey stressed that this particular decision was not made without attention to the employees being let go.<\/p>\n<p>&#8220;We are doing this with the utmost respect for each and every person,&#8221; he wrote. &#8220;Twitter will go to great lengths to take care of each individual by providing generous exit packages and help finding a new job.&#8221;<\/p>\n<p>Twitter is facing a key business problem: how to monetize its substantial user base. With 316 million active users, the social media giant has built a solid market over nearly a decade but one it hasn&#8217;t been able to translate into profits.<\/p>\n<p>According to <a href=\"http:\/\/techcrunch.com\/2015\/07\/28\/twitter-monthly-active-users-crawl-to-316m-up-just-15-year-over-year\/\" target=\"_blank\" rel=\"noopener noreferrer\">TechCrunch<\/a>, Twitter has also seen its growth slow to a crawl over the past several quarters. In response to second quarter numbers, Dorsey said in July that &#8220;we are not satisfied with our growth in audience.&#8221;<\/p>\n<p>Twitter shares were trading up slightly following the layoff news, closing about 1% higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s official: after much speculation as to how co-founder and newly-appointed permanent CEO Jack Dorsey would remake Twitter, he announced late Tuesday that the company would be laying off 336 employees or 8% of its workforce. In a memo to employees released on Tuesday, Dorsey said the restructuring plan adopted by the board would focus [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":52801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7372],"tags":[8104,7897],"class_list":{"0":"post-52800","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-technology","8":"tag-jack-dorsey","9":"tag-social-media"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/52800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=52800"}],"version-history":[{"count":1,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/52800\/revisions"}],"predecessor-version":[{"id":77135,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/52800\/revisions\/77135"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/52801"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=52800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=52800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=52800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}