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Twitter to Tick Off Jobs

Twitter to Tick Off JobsTwitter to Tick Off Jobs

Twitter’s reinstated CEO only took the reins five days ago, but he already appears bent on cleaning house.

Sources for both the New York Times and Recode understand that Jack Dorsey is planning layoffs that could start as soon as October 13. While it’s unclear how many people will lose their jobs, Re/code understands that this is part of an attempt to streamline an engineering team that has become “bloated,” Engadget writes.

Tipsters had already claimed that Twitter was freezing the expansion of its San Francisco headquarters, but Dorsey would be taking that cost-cutting to a new level.

The company is not commenting on the rumors. However, job cuts would not come as a surprise. Although Twitter is improving its bottom line, insiders believe the firm’s programming team is bigger than it should be, given the company’s growth.  Twitter has doubled its headcount in the past two years, but has “only” added 50% more users–it is not getting a great return on its investment.

Financialtribune.com