Twitter is going through a very rough patch. Not only is it struggling to add users, but retaining top employees has also become a major challenge for the company as nearly half of its executive team quit on the same day, sending its stock down sharply and generating a huge media storm.
Employees show their support for Twitter
On Thursday, Twitter hosted its biweekly all-hands meeting Tea Time at its San Francisco headquarters. What exactly Dorsey said at the meeting is not known, but it is believed that it worked in the company’s favor, says a report from Re/code.
Dorsey, a gifted motivator and public speaker, reportedly inspired his employees so much that many decided not to quit and also cited the speech as the reason for their decision. Twitter employees made use of the hashtag #oneteam and praised the positive impact the company had on social change and freedom of expression.
One employees tweeted: “I love working for twitter because it gave me a chance to impact the world. Think, how often you end up with a job like this?”
Another employee tweeted: “I work @Twitter b/c we make lives better, help people accomplish their dreams, & work w/ the most talented people in the industry.”
It appeared that the tweets were designed to show that the numerous challenges and growing doubts about the company’s future have not had any negative impact on employees’ eagerness and excitement to work for the micro-blogging firm.
Need to win Wall Street’s confidence
Twitter is surely in need of these tweets. The micro-blogging firm had a really terrible week when four of its senior executives resigned on the same day. The company lost its head of product, Kevin Weil, to competitor Instagram, hurting many inside the organization, the report says.
“Just people sharing why they love this company and this service. We’re hiring!” a company spokesperson told Re/code.
Dorsey might have succeeded in winning the confidence of employees, but he still has to perform the tough task of winning Wall Street’s confidence by proving that the company and its products have a bright future.
At 10:30 a.m. Eastern, Twitter shares were up 1.15% at $16.68. Year to date, the stock is down by over 28%, while in the last year, it is down by almost 55%.