Twitter layoffs ahead - report

  • 10/10/2015
Twitter chief executive Jack Dorsey (Reuters)
Twitter chief executive Jack Dorsey (Reuters)

Twitter will reportedly lay off employees next week as freshly-returned chief Jack Dorsey pushes for a leaner operation focused on winning users.

Lay-offs will be spread across the entire San Francisco-based company and will likely include engineers, which account for about half of Twitter's approximately 4200 employees, according to tech news website Re/code.

Re/code cited unnamed sources in its Friday report, while Twitter declined to comment on what it referred to as rumour and speculation.

Twitter is betting the second coming of co-founder Dorsey as chief executive will bring blockbuster growth that has eluded its grasp and disappointed investors.

Dorsey, who had been interim CEO since June, returned permanently to the helm last week while also remaining chief executive of Square, the digital payments firm he founded.

Twitter quickly become a global sensation after its launch in 2006 but the social media platform's growth has slowed and it is yet to turn a profit.

Dorsey ran Twitter in 2007-2008 and served as interim chief executive for the third quarter after Dick Costolo resigned in June.

Twitter shares slipped nearly four percent to $29.74 in after-market trades.