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.

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.