Twitter Shares Slip on Report of Impending Job Cutsby
Re/code reports that all departments will be affected
Stock declines as much as 4 percent in extended trading
Twitter Inc. shares fell as much as 4 percent in extended trading on Friday on a report that the company is planning on cutting some jobs next week.
All departments will be affected by the cuts, technology news website Re/code reported, without saying how many positions would be affected. The move would come a week after co-founder Jack Dorsey was appointed as the company’s CEO, after spending about three months as interim chief.
Twitter, which lets people send and share 140-character status updates, has 4,100 employees around the world, according to its website. The San Francisco-based company has been reorganizing its product and engineering departments over the past year.
Jim Prosser, a Twitter spokesman, declined to comment.