Twitter to streamline workforce by cutting 336 jobs

Twitter has announced that it is cutting 336 jobs as part of a streamlining effort to set the company on course. 336 jobs represent 8 per cent of Twitter's global workforce and the job cuts will affect the engineering division.

The cuts come weeks after Jack Dorsey was appointed Twitter CEO. Twitter is doing well financially but has been having a hard time attracting new users, even as it has tried to diversify and add features to the service.

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Layoffs might be in Twitter’s future

After assuming the post, Twitter’s returning CEO Jack Dorsey looks to be preparing for layoffs as early as October 13^th. The company won’t address these rumours but sources for both The New York Times and Recode say that there will be some people losing their jobs soon, as to how many these would be is yet to be determined.

Recode believes that these layoffs are part of an attempt to streamline a “bloated” engineering team. While the social network has been improving its bottom line, there’s supposedly a sense among insiders that the engineering team of the company is bigger than it should be when related to its growth. The company has doubled its workforce in the past couple of years even if they’ve added around 50 percent more users.

Source: Engadget

Twitter names Jack Dorsey as CEO

Image credit: cellanr @ Flickr

Twitter has settled on making Jack Dorsey its permanent CEO after he held the position as the interim chief. Twitter plans to have a separate chairman though. Dorsey, at the same time though, is the head of mobile payments company Square. Twitter aims to rekindle growth following a rather abysmal result from the last quarter. Investors and analysts have praised faster product rollouts since Dorsey took over for Dick Costolo back in July.

According to Peter Currie, Twitter’s lead independent director, “To further simplify the demands on his time as well as to make sure we bring a fresh voice and new leadership to the board, the board has decided to separate the chair and CEO roles.”

Source: Reuters

Twitter is making it easier for you to shop on its app

Whether you like it or not, e-commerce is coming to your favorite apps. This time, Twitter is partnering with payments startup Stripe to help merchants sell their goods right on Twitter. The project called Relay lets merchants reach Twitter’s audience with tweets from participating brands now showing a “Buy” button. The button will pull up a pop-up screen where you can select the products you want to purchase. You’ll then give your credit card information to Twitter once and it’ll store that information for future Relay payments.

Stripe already works behind the scenes to power payment systems of apps like Lyft and Instacart. They hope Relay will help simplify the mobile buying experience for Twitter users. Right now, Warby Parker is one of the merchants trying out Twitter’s new Relay system. At the moment, people can select a color and size of a particular nonprescription sunglasses style without having to leave Twitter. 

Source: Stripe | Via: BuzzFeed News