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Twitter Plans To Cut About 300 Jobs As Soon As This Week: Bloomberg (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Twitter Inc. is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter. The company may cut about 8 percent of the workforce, or about 300 people, the same percentage it did last year when co-founder Jack Dorsey took over as chief executive officer, the people said. Planning for the cuts is still fluid and the number could change, they added. An announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday, one of the people said. Twitter, which loses money, is trying to control spending as sales growth slows. The company recently hired bankers to explore a sale, but the companies that had expressed interest in bidding -- Salesforce.com Inc., The Walt Disney Co. and Alphabet Inc. -- later backed out from the process. Twitter's losses and 40 percent fall in its share price the past 12 months have made it more difficult for the company to pay its engineers with stock. That has made it harder for Twitter to compete for talent with giant rivals like Alphabet Inc.'s Google and Facebook Inc. Reducing employee numbers would relieve some of this pressure.
That's because idiots thought Google gave away free search and didn't know it was raking in money with AdWords because they never looked at any financial statements.
Twitter is a pure money sink that is trading on their fame. I'm not even sure how they would monetize it and I don't think they know either.
What in the world do those 3700 people do?
engage is sjw activism under orders?
problem with twitter is, its leadership does not seem to know what it does.
if it is a facilitator for expressing and communicating( a micro blogging site, media site, or whatever, it calls itself), it should not be putting any limits on any of that unless specifically asked to do so by courts after due process. instead, irrationally, its leaders seem to think expressing and communicating will be helped by a creating a "safe space" where some people's feelings and sensibilities will be privileged over others.
depending on 'delicate' people who must be protected from words( who are by definition spongers on more robust people), for profits, inevitably leads to ruin. this was predicted by many and will happen.