Twitter To Begin Layoffs (nytimes.com)

An anonymous reader writes: Just a few days ago, Twitter co-founder Jack Dorsey returned to the company and took over the role of CEO. Now, the NY Times reports that the company will be facing layoffs as he cuts the company's costs. Twitter somehow manages to employ over 4,100 people across 35+ offices, so many investors are thrilled with the news. "Twitter's spending has been rising. In the last quarter for which Twitter reported financial results, costs and expenses totaled $633 million, up 37 percent from a year earlier. The layoffs will most likely affect multiple areas of the company, including the engineering and media teams, according to the people with knowledge of the plans." The company is also dropping plans to build a 100,000 square-foot expansion to its headquarters.

Comments

Great, another idiot

[U2xhc2hkb3QgU3Vja3M]

The layoffs will most likely affect multiple areas of the company, including the engineering and media teams, according to the people with knowledge of the plans.

So, cut everyone except the management positions. What's left? NOTHING. And I hope he becomes CEO of Facebook in a few years, too.

Re:Great, another idiot

[Anonymous Coward]

Considering the disparity in wages these days, firing just one guy from management would reduce costs 2-3 times as much.

Investors are parasites

[Anonymous Coward]

Twitter's spending has been rising and it's a good thing they're laying people off to cut costs because god forbid they allow people to make a living, own a house and have a family. I'd rather see profits go up by half a percent than help hundreds of people live a comfortable, happy life with a steady income!

Employing people shouldn't be a sin. It's enough of an insult we have to work like dogs our entire lives just to be able to eat and survive then you get shareholders who want more and more profit and are willing to screw us over to get it.
How many of these people being laid off will lose their home or significant other? How many will end up in a god awful job they'd sometimes rather be dead than go to? How many lives have to be ruined in the constant pursuit of profit?

Re:Investors are parasites

[aaarrrgggh]

Companies do not exist to lose money either. Now, their market cap is $20B, they lose $750M per year, and have 4,100 employees. They have about $2B cash less debt. While their CFO did make an obscene amount last year ($72M), and likely should be fired as he doesn't seem to be doing much for the company, that won't solve all their problems.

This type of situation has the dot-bomb written all over it. Trimming things back at least gives the company a chance to survive.

Re:Investors are parasites

[ahabswhale]

Oh bullshit. Twitter burns money like there's no tomorrow. They've never made a single penny of profit. To think that this would somehow go on forever, without consequences, is ridiculous. If anything, investors have been way to forgiving of twitter for far too long. Also, you're not doing anything to preserve jobs when you risk the company going under. Grow up.

Re:Really...?

[0123456]

Presumably about 90% of them are selling advertising? Sorry, 'Sponsored Tweets' or whatever they call it.

Re:Really...?

[SuricouRaven]

I wouldn't be surprised if a good chunk of those were the paid moderators charged with investigating flagged tweets and suspected code of conduct violations. A lot of that can't be automated, so it must be one of their more labor-intensive tasks.

Re:Fail Whale?

[umghhh]

That actually fits into my observations of industry - do something right and you get optimized out of your job.

Re:hard to imagine it wouldnt happen.

[Anonymous Coward]

You're not form the US are you? Having been laid off, and having received my severance package, and having been entitled to unemployment, and having been entitled to a fair few other things, I assure you, you don't know what you're talking about.