#Twitters trending on twitter!
They recently revealed that they are planning to implement a new product that will allow users to go beyond its 140+character limit. What they didn’t share in that announcement was the news of cutting 8 percent of their staff!
As part of an internal restricting plan, according to a filing submitted to the Securities and Exchange Commission, the cut is intended to help Twitter speed up internally.
According to CEO Jack Dorsey, ” Product and Engineering are going to make the most significant structural changes to reflect our plan ahead,” and We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce. And the rest of the organization will be streamlined in parallel.”
Roommates !!?? Any lay off isn’t considered good news but maybe this change is for the betterment of the company!?
For years, users argued that the site had too much going on! Sources say that Twitter needed to do a better job “clarifying ownership” over specific projects.” CEO Jack Dorsey decided to move towards resolving the issue at hand: Twitter internally needs to be held accountable!
Supposedly, the layoffs will cost the company $20 million.
That unemployment check is costly! Nevertheless, Twitter expects to come up in the end. They now expect profit closer to $560 million with Ebitda profit closer to $115 million.
Will this change speed things up and get users addicted to Twitter like the old days??
Roommates what do you think ?
Source Cited:
http://www.complex.com/pop-culture/2015/10/twitter-to-lay-off-eight-percent-of-employees-as-part-of-continued-streamlining-process
TSR Intern: Kamille Jemison @KamilleJemison
Don’t you mean “Internal Restructuring Plan”??