Twitter's returning CEO is reportedly planning layoffs

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Twitter's returning CEO is reportedly planning layoffs

Twitter's 'new' permanent CEO only took the reins five days ago, but he already appears bent on cleaning house. Sources for both the New York Times and Recode understand that Jack Dorsey is planning layoffs that could start as soon as October 13th. While it's unclear how many people will lose their jobs, Recode understands that this is part of an attempt to streamline an engineering team that has become "bloated." Tipsters had already claimed that Twitter was freezing the expansion of its San Francisco headquarters, but Dorsey would be taking that cost-cutting to a new level.

The company isn't commenting on the rumors. However, job cuts wouldn't come as a surprise. Although Twitter is improving its bottom line, there's purportedly a sense among insiders that the firm's programming team is bigger than it should be given the company's growth. Twitter has doubled its headcount in the past two years, but has 'only' added 50 percent more users -- it's not getting a great return on its investment. Whatever the reasons, the layoffs would be consistent with Dorsey's very public desire for greater focus at a company that's seemingly willing to try anything and everything in the name of making money.

[Image credit: Justin Tallis/AFP Photo/Getty Images]

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