Twitter clearly has seen a bumpy path ever since its IPO and to improve the situation, we’re now seeing yet another shift in its structuring. The latest round of shifting has seen 5 key position-holders leave the company and its related side-products.
The Most Recent Casualties at Twitter
The people affected include VP of media Katie Stanton, VP of product Kevin Weil, VP of engineering Alex Roetter, as well as VP of human resources, Brian Schipper. The news has been confirmed by Twitter CEO Jack Dorsey.
Furthermore, Jason Toff, the guy behind Twitter-owned Vine is also leaving the company to join Google’s VR business. His tweet acknowledging the “exciting potential” over at Mountain View confirmed that.
For the time being, Twitter’s COO Adam Bain will take over duties for revenue-related product teams, the Media and the HR teams, until a more permanent solution is called.
What Does This Mean For Twitter and Its Future?
Needless to say, the investor confidence is dwindling by now. The shares of the company are down 6 percent since this news was announced, having lost 23 percent of their value this year alone. Compared to last year, around the same time, they are valued at 54 percent lesser.
Twitter is facing a tough battle on the user-share front too. With 300 million users under its wings, it was among the slowest growing networks and has been trumped by Facebook-owned Instagram, which has 400 million users.
With a CMO set to be announced soon, it is clear that the network needs something radical since replacing the star with a heart hasn’t been particularly ground-breaking so far.