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Twitter will fire 350 employees to save money!

  • hitmeasap Level X5
    • 12

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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?

    #Twitter #News #Employees #Money Social Media
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    procoder

    procoder

    Yeah it's true, I remember reading this before a few days ago. Apparently Twitter is having a lot of big problems, they're a a popular social network but since they're firing its employees it means that the situation it's far worse than was before. From what I've read on internet Twitter it's already dead, and the only solution to revive it again would be if they sell it to Microsoft, Google or some other potential bidders.

    Google and Microsoft are both giant tech companies, and I'm pretty sure that they could save it from going down, why not making it even more powerful and popular than is right now.
    9 years ago

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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!
    9 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.
    9 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.
    9 years ago

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    idealmike

    idealmike

    Is fire the right word to use? Haven't they been laid off rather? And didn't this happen recently with some other big social network? Wasn't it LinkedIn? Who said at that time, they would help those people to find work elsewhere. Wouldn't or shouldn't Twitter do the same thing for their employees? That said, I wouldn't feel too bad for those people! I mean come on! Those people should be able to find work for some other social networking site or equivalent. How many people do you know can put on their resume that they used to work for Twitter? Twitter will fire 350 employees to save money!

    This is altogether really quite surprising though! Twitter is an Internet sensation and one of the biggest and longest running micro blog, social networking sites that have been around for many years. It's kind of really weird that they would be suffering to the point that they needed to lay off some of their employees. I mean, the site gets millions of hits a day, how the hell do you not monetise that!? What sort of things do they have to pay out for other than employee wages and server costs? They should surely be making more money per week/month/year than they are spending right? So they should be running at a profit. I just can't understand it and I think it's a load of BS. This is probably just a marketing tactic to steal some limelight and get back into the attention of people and other giant corporations eyes. Honestly. I'm calling BS on this one come on People don't fall for it!
    9 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.
    9 years ago

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    idealmike

    idealmike

    I don't think it will ever get shut down. It will evolve and turn into something else. But not shut down. Shut down to the point that it's just a parked domain. The site itself holds too much value still for that to happen. Look at MySpace, they are virtually forgotten about now, these days. But they was one of the first and biggest social networking sites of all kind. Until Facebook obliterated them. Poor old Tom never knew what hit him! Well he did, it was the rise of all these other more popular and better named social media networking sites. But I agree, they have tried to do so many things recently to get people coming back. Some of them somewhat useful, most of them practically useless. They need to stop launching products and services nobody wants. Perhaps it would be best if Facebook purchased them instead of Google. Facebook seem to have much more success in the things they do. Google don't if Google+ is anything to go by! It will be interesting to see how this plays out though! Twitter will fire 350 employees to save money!
    9 years ago

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    Everett

    Everett

    Yep, I don't think Twitter will shut down but their stock price will decrease, and it will be like Myspace. Tom actually said he was glad he sold myspace, as he felt like it was the perfect move during that time. Last selling price of myspace I believe was 35 million, which seems like a small figure compared to the 580 million price just shy of 6 years ago.
    9 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.
    9 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.
    9 years ago

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    MusicMoguls

    MusicMoguls

    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!
    9 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?
    9 years ago

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