Media: Twitter is planning mass layoffs of employees

NEW YORK, October 10. /Corr. Ivan Sawyers/. American company Twitter is planning to hold next week’s mass layoffs of employees. This was reported in the Friday information portal Re/code.

According to his sources, the reduction will affect all or nearly all divisions of the company. The exact number of those who will lose their jobs, has not been disclosed, but we know that, for the most part, it is about technical expertise. The main purpose of the dismissals is to ensure that Twitter could work as effectively, but at a lower cost.

Company officials refused to confirm the information contained in the publication Re/code. “We do not provide comment on rumour and speculation,” – said in Twitter. According to official data, the company employs about 4.1 thousand people, it has 35 missions in different countries.

Corporate reporting, presented by Twitter in July of this year, showed that the increase in the number of users of the social network in the previous months slowed to the lowest level since November 2013, when it placed its shares on the stock exchange in new York. For the current year the company’s stock price fell by about 14%.

Social network Twitter was created in 2006. It unites more than 500 million users worldwide, about 300 million of which are active, and is among most visited resources in the Internet. The company’s revenue in 2014 amounted to $1.4 billion when the loss of $577 million.