Inside Twitter as ‘mass exodus’ of staffers throws platform’s future into uncertainty
Twitter’s exodus of senior employees began shortly after the company’s last quarterly earnings call. Some of these employees were not included in the earnings release.
It was shortly after the company’s last quarterly earnings call. Some of these employees were not included in the earnings release.
The company’s CEO, Jack Dorsey, made the changes on the day after Twitter disclosed quarterly earnings.
The dramatic shift in staff brought up questions from investors about where Twitter will go from here.
“If you’re a Twitter investor, you’re wondering what the company is going to look like next year,” said Neil Cyrenriksen, senior vice president, equities research at Citi. “They’re having the same questions that everybody is asking with respect to how Twitter’s going to make profits and whether it will have a sustainable trajectory.”
Twitter’s chief executive, Jack Dorsey, was responding to questions in an investor call on Tuesday — the first with the company this year. He did not provide a comprehensive answer about Twitter’s future.
Twitter confirmed that the person who was the most senior member of its leadership team, chief legal officer Joel Kaplan, was laid off — but it declined to say whether any other executives were laid off or whether any of the company’s other senior leaders were asked to leave the company.
The company declined to disclose any financial details about the layoffs but said that the departures were “related to strategic priorities and initiatives.” The departures are the result of “a comprehensive review across our teams and business units,” the company said.
The departures are, of course, a significant change for a company that had reported revenue of $2.5 billion in the last quarter of 2016. The company posted revenue of $2.7 billion in the final quarter of 2017.
Twitter did not share any financial details, such as revenue or operating profit, from the earnings call. The company has reported revenue of about $2.5 billion in recent years. But it’s unclear what that means for the company’s near-term financial performance if it’s the first time it’s reported a non