Twitter Cuts 8% of Its Workforce Thanks to 'New' CEO
You may begin your "You Don't Know Jack" joke series now.
Co-founder and newly minted CEO of Twitter Jack Dorsey has a few tweets on his mind. Arguably, they will be for condolences.
In one of the first restructuring moves in the social media juggernaut’s history, labor cuts are being sent via direct message to 336 tweeps.
Made some tough but necessary decisions that enable Twitter to move with greater focus and reinvest in our growth. http://t.co/BWd7EiGAF2
— Jack (@jack) October 13, 2015
In an email to employees (via The New York Times), Dorsey wrote the executive vision for the future of Twitter:
“We are moving forward with a restructuring of our work force so we can put our company on a stronger path to grow,” Mr. Dorsey wrote… “We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our work force. And the rest of the organization will be streamlined in parallel.”
Regretfully, not everyone got the email. Here’s a #PRFail note:
I’ve been impacted by $TWTR‘s layoffs. This is how I found out this morning. pic.twitter.com/MbjFwYLcU2
— Bart Teeuwisse (@bartt) October 13, 2015
Not good.
It’s bad enough when the rumor mill starts spinning out of control (like it did last week following the closing of NYSE on Friday), but when the wheels fly off and run over the dearly departed, no one cares about corporate growth.
Except those who still have their jobs and stock options.
[PHOTO: CNNMoney.com]
