Amidst sale and user number stalls, reports have been surfacing according to which Twitter will proceed to cut down on its employees number.
Things have not been going well for Twitter. The social media company, which was founded and rose to fame in 2006 has been facing quite a number of problems as the microblogging platform has stopped advancing in both its number of active users and in its sale plans.
Jack Dorsey, the company’s co-founder and permanent CEO as of 2015 has been under a lot of pressure as the company is registering both a drop in its share values and yearly losses in the millions mark.
After a round of job cuts which took place last year after Dorsey’s naming as CEO, which saw 336 cut jobs, the company will reportedly have to further reduce its employees number by 8 percent, which would account for another approximately 300 workplaces.
The social media’s former star has been trying to break out of its decreasing market value through a number of tactics, none of which seem to be currently working.
As Twitter’s number of users has been staying in the approximately 300 million numbers mark, some voices are blaming the CEO for not trying hard enough to turn around the platform’s fate.
Neither the userbase numbers, although steady, nor the platform’s performance seem to be helping as advertising customers are starting to turn their eyes and services from Twitter to other, newer, on the rise media rivals, which would mean a further decrease in funding.
One of the company’s solutions for its monetary issues seems to be falling as well as the same reports have declared that Twitter has failed to attract or keep prospective buyers interested.
With an annual loss figure of about $400 millions per year and a market capital value of around $12.76 billion, the possibly interested buyers seem to be walking away or not reaching any kind of sales deal.
Alphabet and Salesforce are amongst the vehiculated names that have passed on the offer of buying Twitter.
As Twitter shares registered a 40 percent decrease as compared to their high period which lasted 52 weeks, the company has raised a further set of questions as it announced a last-minute delay of their third-quarter report.
As the earnings report should have been released on Monday, the social network announced that it will reveal its numbers on Thursday, before the market opens, so as to not interfere with other media companies’ quarter year reports.
This last minute delay also led some to believe that the company will also be announcing the future reduction of its employees number as it already stated, back in September, that it will renounce some of its Bengaluru, India workplaces.
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