Twitter is one of the most revolutionary social media sites of all-time. They should be thriving, right? But they’re not. In fact, Twitter is struggling…Twitter is bleeding.
This week, Twitter contemplates laying off 300 employees. That’s eight percent of their entire work staff. While they did the same thing last year, this year should be different. Also, this is not written in stone. So the number is hopefully lower, or it could be even higher. Furthermore, sources don’t want to be identified. Nobody wants to say these hindering things about their own company.
These same sources say the lay-offs could come even before Q3 2016 results come out. That report should come out this Thursday. But Twitter representatives aren’t talking about that, either. Yes, Twitter is in trouble. Sales are down. Advertising revenue is falling. In addition to that, they explore a buyout. But even potential buyers have no interest. Companies like Salesforce and Walt Disney expressed interest. They changed their mind. So Twitter can’t even sell out of their troubles. Even the stock market turned against them. Stocks fell 40% in just 12 months. As I write this, Twitter stock fall 4.45% in just two hours! How can they pay their staff with those kind of falling numbers? Furthermore, how can they compete with Facebook and other social media sites with such failing numbers?
So is laying off employees an option? I hope not. I hate for anybody to lose their jobs, especially due to something that isn’t that person’s fault. But even this fix is temporary, assuming this works at all. Twitter has tried so hard to get back on track. They put in place harsher rules to cub trolling and bullying. They tried allowing longer tweets. Then they offered NFL games on Twitter feeds. But now that NFL ratings are down, that’s all up in smoke. What is Jack Dorsey to do?