Twitter will fire 350 employees to save money!

hitmeasap Level X⁵

November 3, 2016, 6:23 am

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Twitter will fire 350 employees to save money!

I don't know if you're aware of this. I recently stumbled across these news and I just had to share it with you guys!

Twitter will fire around 350 employees in hunt for profits

The headline initiative will be to hack back nine percent of the company's workforce -- around 350 employees. It mirrors a similar move Dorsey made in October 2015 when he fired 336 people from the company in order to cut costs. Twitter expects that the layoffs will cost between $10 and $20 million to cover severance fees.

Is this the true downfall of Twitter? - Is this the last resort?

Do you think Mark (Facebook) will "rescue" Twitter and buy it, just like they bought Instagram or do you believe they will be able to stay in business?

Perhaps Google would be more interested in buying Twitter, or why not even Microsoft. - What do you think?

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Lynne

Lynne

I always feel sad when I hear about people being laid off from their jobs. It is sad when a company struggles like that and then they have to make drastic moves like Twitter firing 350 employees.

I guess though that a company needs to do what they have to in order to keep going otherwise the entire company could go down and all the employees then lose their jobs.

I wonder what it really happening with Twitter now and whether another company will buy it out. I don't want Twitter to go down also from a purely selfish point of view. I have over 50 000 real Twitter followers between 4 accounts and I would hate to lose the traffic and sales that I get from this.

I can only imagine how much of a massive impact this will make to other businesses that make use of Twitter for marketing!

8 years ago

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Everett

Everett

It is indeed very sad, however it's also easy for those that were laid off from giant websites to acquire another job elsewhere. For instance, if someone was laid off from Facebook, they could easily get a job at other companies like Github, Google, Yahoo, etc. Once you work for a high profile, and very popular site it's so easy to land another job as the companies wants to hire those that were laid off.

8 years ago

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Lynne

Lynne

Yes very true on that point, if you've had Twitter under your belt you won't struggle to get a job will you? But still changing jobs is very stressful and it is not a nice feeling to lose your job no matter how employable you are! Hopefully they get a nice package to make it a bit easier.

8 years ago

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Everett

Everett

I just did a quick Google "fact check", and some say that it is due to them attempting to sell the company to a buyer which makes complete sense since this is what usually happens when a company buys out another company. Or they are just cutting costs, and jobs that are obsolete.

Twitter will fire 350 employees to save money!

I just searched the Twitter stock, and it appears to be increasing rather than decreasing. The reasoning behind the increase could possibly be due to their quarterly report, or Google being mentioned as one of the potential buyers.

I'm not sure if I would like to see twitter shut down. I don't use twitter that much, however it seems like a nice place to get clicks to websites, and for people to follow others to keep updated about their lives.

Another thing I read was that twitter needed some form core functionality features and/or updates, and that users are becoming bored of twitter. I think they should attempt to create that hasn't been done before, and be the first to launch it. Who thought of microblogging before Twitter came about? They need to create another platform that users will flock (pun intended) to.

8 years ago

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EliteWriter

EliteWriter

Twitter has been losing out for the past several years, and it is sad to note that they are having to make this move, which will impact negatively on their employees. I think that with the massive success Facebook has, Twitter cannot really hope to recuperate, despite these people being made unemployed. I do not expect Twitter to shut down, but they need to do something other than firing so many of their employees, in order to improve their operations. I agree with those who said that we may see an evolvement or a considerable change in Twitter.

8 years ago

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Cristian

Cristian

Twitter has some huge problems to fix and apparently nobody wants to get into that mess just yet, although everyone may want to take a piece of that action I don't see a clear candidate yet, not even Google.
The buying price of Twitter will probably be huge, it may be better to way and let it crash and burn and pick up the pieces afterwards or just replacing twitter with their own versions of the platform.

Google is the really one who needs a social network very bad to compete with Facebook and Twitter would be a great acquisition in my opinion.

8 years ago

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CryptoGuru

CryptoGuru

Man this is really bad for the people who work at Twitter. Greed is a real thing and social media is no exception to this. Its never personal and its just business but the CEO does not think about the lives he affects when he makes cuts like this. Twitter has been on a decline for years now and this really does not come as a surprise. I agree with Everette they may be trying to sell the sinking ship before it takes them all down. I just hope that whoever takes over the company can bring it out of the rut that its in and redesign Twitter to be new and fresh. If twitter goes down i will be very upset because i have a huge following over their that i have been building for over 6 years. This is very interesting please keep us updated on this as it unfolds. Thank you!

8 years ago

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Corzhens

Corzhens

I am surprised with this development. All the while, I thought Twitter is having a sweet time with its business because it has posed a challenge to Facebook, the reason why Facebook has its continuing innovation with features and lately the entertaining apps. It's really sad that after being profitable for a time and having the potential to be number 1, now comes that bad news. Is there a possibility that Twitter may be like Yahoo who was bailed out and now owned by another company?

7 years ago

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