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© OKN MEDIA PUBLISHING 2022 - All rights reserved
Tech

Twitter to Sack 9% of Its Workers Worldwide

Farouk Mohammed
By Farouk Mohammed
Published: October 27, 2016
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Social networking service is cutting about 9 per cent of its workers worldwide.

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TwitterSocial networking service is cutting about 9 per cent of its workers worldwide.The social media site seemingly unable to find a buyer and losing money has struggled amid competition from the likes of Facebook, Snapchat and Instagram, says it expects to book about $10 million to $20 million in workforce restructuring charges.
The social media site seemingly unable to find a buyer and losing money has struggled amid competition from the likes of Facebook, Snapchat and Instagram, says it expects to book about $10 million to $20 million in workforce restructuring charges.

Twitter shares have tumbled 27 per cent in the past month as possible suitors have wandered away, rose 4 per cent before the opening bell Thursday.

The San Francisco company said it expects to take $10 million to $20 million (U.S.) in charges as it lays off more than 300 of its 3,860 workers.

“We have a clear plan, and we’re making the necessary changes to ensure Twitter is positioned for long-term growth,” CEO Jack Dorsey said in a company release.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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