Twitter will have big layoffs next week

Twitter is preparing for company-wide layoffs next week, according to a report in Recode, citing anonymous sources.

The struggling Internet company is expected to cut staff across virtually all departments, Recode reports, though it said the exact number of layoffs was not clear.

The layoffs would come just about a week after Twitter cofounder Jack Dorsey was appointed permanent CEO promising big changes for the company.

Twitter had 4,100 employees at the end of June. Twitter's engineering ranks, which make up roughly half the company's staff according to Recode, will likely be impacted.

Dorsey, who has served as interim CEO since June, has been vocal about the need to shake things up at the company, as user growth and engagement has stalled. During the second quarter conference call in June, Dorsey called the performance "unacceptable," and said he would "ensure more disciplined execution," among other things.

A Twitter spokesperson declined to comment.

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