Twitter Inc. reportedly plans to pare back its office space in several cities as looks to trim costs. A Bloomberg News reporter tweeted Wednesday that a Twitter internal memo detailed plans to cut back office sizes in San Francisco, New York, Tokyo, Mumbai, and Dublin. The tweet further noted that Twitter is contemplating shutting offices in Sydney, Seoul, Madrid, Hamburg, and other markets, but that the company doesn’t intend for potential office closures to affect employment. “We are evaluating our global office portfolio and re-sizing certain locations based on utilization,” a Twitter spokesperson told MarketWatch. “We’ve proven we can operate our business successfully with a distributed workforce over the years, and remain committed to our employees, our customers, and the markets we serve.” The spokesperson added that the office changes “do not impact our current headcount or employee roles.” Twitter is in the midst of a takeover battle with Tesla Inc. Chief Executive Elon Musk, who said he has terminated the deal due to concerns about the accuracy of Twitter’s statements about bot accounts. The matter is headed to court, where a Delaware judge is expected to hear the case in October. Shares of Twitter are up 0.8% in Wednesday morning trading.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.