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Reports: Twitter chainsaw massacre redux on the cards
300 staff to get their 140-character farewell
Twitter is going from “troubled” to “beleaguered”, with reports that after it failed to flog itself it's going to cut loose as many as 300 staff.
Its ongoing inability to translate user loyalty into a successful and growing platform to attract advertiser dollars – and its persistent abuse problem – left Twitter's sale to variously Alphabet, Salesforce and Walt Disney in tatters.
According to Bloomberg, the cuts will involve about 300 staff, 8 per cent of its workforce.
The layoffs could be announced ahead of Twitter's third-quarter earnings announcement on Thursday of this week.
Bloomberg notes that with its share price falling, Twitter's finding it difficult to get engineers to accept part of their package in shares, which would be putting pressure on its salary bills.
Last year, following layoffs of similar scale, CEO Jack Dorsey passed around US$200 million of Twitter stock to try and put the spark back into the business. ®