Twitter is planning company-wide layoffs for next week, according to a Recode report citing multiple unnamed sources. The layoffs will affect most or possibly even all departments of the company, according to the report.
The report comes just days after Twitter announced that co-founder Jack Dorsey will lead the company as its new permanent CEO.
Twitter currently employs around 4,200 people, and had originally planned for significant staff expansions in the coming months. The company was looking to lease as much as 100,000 square feet of additional office space near its San Francisco headquarters, but canceled these plans earlier this month.
Twitter has been struggling in recent months with a slowing momentum, with the number of monthly active users essentially flatlining in the U.S. The company wants to win over additional users with a new feature called Moments that it launched earlier this week, but executives have been frank about the fact that it will take some time for new initiatives to have any significant impact.