Twitter Plans Layoff This Week

1it enterprise

1it enterpriseAs the company is planning on cutting costs in the desperate times there is a possibility that the company might cut some jobs i.e. 8 percent or 300 people is a rough guess. The job cuts are expected to occur before the third quarter earnings announcement by the company. The company doesn’t comment on speculations and rumors said a Google spokesperson in an email. The company’s user’s base hasn’t grown significantly as some of its other competitors. Twitter hasn’t also effectively monetize through publicizing the number of users it already has on the site.

 

Twitter announced that the monthly active users were 313 million in the second quarter in 2016, which is up by 3 percent as compared to 310 million in the previous quarter. While the revenue of the company is up by 20 percent to $602 million though the company updated a $100 million loss under generally accepted accounting principles. With streaming videos and not counting media attachments and @names in the 140-character attachment in the Tweet post, the company is trying to provide users better ways to express themselves. According to a report Alphabet and salesforce.com, the Walt Disney Company backed out later after showing some interest initially in the sale explored by bankers hired by the company.