Twitter’s shares tumbled six per cent in the US yesterday amid reports that the firm’s chief executive is under pressure to turn things around within the next few quarters.
The social media giant’s board met on Thursday to look at money-saving options, CNBC first reported, and a sale of the company could also be considered.
The company’s share price tumbled six per cent to $18.70 yesterday, and then a further one per cent to $18.51 in after-hours trading.
Twitter’s shares were trading at above $30 in October last year, the same month that founder Dorsey was named as permanent chief executive.
Sources told CNBC that the company met on Thursday to discuss options for saving money, including job losses or selling businesses MoPub, Fabric or Vine.
It was reported that Dorsey’s management would not be questioned and he will be given a few more quarters to turn the company around.
What you need to know