Tag Archives: twtr

Twitter Woos Former Google Exec To The Microblog

Twitter (TWTR) named former Google high-level executive Omid Kordestani to become its executive chairman, potentially paving the way for cozier ties between the struggling microblog and the Internet search leader. Kordestani assumes the post that Jack Dorsey vacated when he was officially named Twitter’s CEO last week. Kordestani had been Google’s chief business officer until the August corporate restructuring that made Google the largest division

Twitter Talks Job Cuts But Needs ‘Product Overhaul’

Twitter (TWTR) on Tuesday notified employees of its plans to cut 336 workers, or about 8% of its staff, as part of a restructuring. “The restructuring is part of an overall plan to organize around the company’s top product priorities and drive efficiencies,” according to a company filing Monday with the U.S. Securities and Exchange Commission. Media reports about impending layoffs emerged last week. “The company intends to reinvest savings in its

Twitter Tumbles On Engineer Layoff Rumors

Twitter (TWTR) stock fell Monday following news reports that the company plans to cut its engineering staff. Twitter shares were down 6.5% in midday trading in the stock market today, near 29. Since hitting an 11-month high of 53.49 in April, Twitter stock has tumbled 45%, though it’s again trading above its November 2013 IPO price of 26. Twitter plans to announce companywide layoffs this week, according to a Re/Code report on Friday. Re/Code said