Twitter Laying Off Over 300 Employees, 8 Percent of Staff

Kurt Wagner, writing for Recode:

Twitter plans to lay off as much as 336 people, or 8 percent of its staff, as part of an internal restructuring plan, according to a filing submitted with the Securities and Exchange Commission Tuesday morning. […]

“Product and Engineering are going to make the most significant structural changes to reflect our plan ahead,” CEO Jack Dorsey said in a letter Tuesday morning. “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.”

They’ve also got a copy of Jack Dorsey’s company-wide memo announcing this. That’s a tough memo to write, but Dorsey does a good job of being honest and humane. Count me as a bull on Twitter.

★ Tuesday, 13 October 2015