Twitter Australia hit in global shake out - 12 staff exit

Sarah Homewood
By Sarah Homewood | 2 November 2016

Twitter Australia has made more than 10 staff members redundant, after it was announced that the social media player would lay off 9% of its staff globally.

AdNews understands that approximately 12 staff, of a roughly 50 strong workforce, have lost their jobs as part of the global move. This is on top of several departures that have been reported in recent days.

The most high profile exit from Twitter came when it was revealed by AdNews that managing director of the local operation, Karen Stocks, was leaving the business after more than three years at the helm of the company.

It is currently unclear which departments are impacted by the redundancies. The global clear out came as the business reported its ninth quarter of declining revenue growth.

Before Twitter, Stocks was managing director of mobile and social solutions for Google Asia Pacific. She was also previously director of new products and solutions in Australia for the tech giant, where she had worked since 2007. Stocks also spent 12 years with Vodafone.

When asked about the cuts made to the local operation, a Twitter spokesperson outlined that the business doesn't comment directly on individual offices or numbers, however when it announced the global cuts it said:

“This morning we announced a restructuring and reduction in force affecting approximately 9% of Twitter’s positions globally. The restructuring, which focuses primarily on reorganising our sales, partnerships and marketing efforts, is intended to create greater efficiency as we move toward our goal of driving toward US GAAP profitability in 2017 (which means profit when reporting under US accounting standards).

“The restructuring allows us to continue to fully fund our highest priorities, while eliminating investment in non-core areas and driving greater efficiency. Over time, we will look to invest in additional areas, as justified by expected returns and business results. We remain committed to our previously stated long-term goal of 40-45% adjusted EBITDA margins net of traffic acquisition costs (TAC).”

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