Twitter to scale back Dublin office space as part of global cost-cutting plan

Twitter is planning to scale back its Dublin office space as part of a global push to cut costs.

The social media company will reduce the size of its European headquarters at 1 Cumberland Street in Dublin 2 where it occupies four floors, by looking to lease out one of the floors to a new tenant.

It comes after reports that Facebook-owner Meta is to pause its fit-out of part of the Fibonacci Square scheme in Ballsbridge, Dublin 4, amid a global slowdown which has buffeted the tech sector this year.

No jobs will be lost at Twitter as a result of move, the company told employees in an email sent on Wednesday.

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The company may close its office in Sydney and is considering plans to shutter several other offices once leases expire, including those in Seoul; Wellington, New Zealand; Osaka; Madrid; Hamburg; and Utrecht in the Netherlands, according to the memo.

The social media company will also significantly decrease its corporate presence in San Francisco. Corporate space in other key markets will be reduced, including Tokyo, Mumbai, New Delhi, Dublin and New York, it said.

A spokesperson said the decisions do not affect current headcount or employee roles, “and we’ll continue to support and regularly meet with our customers to help them launch something new and connect with what’s happening on Twitter”.

The company had more than 7,500 employees at the end of 2021.

“I want to make it clear that this does not change our commitment to the work in each of these markets,” wrote Dalana Brand, Twitter’s chief people officer. “If certain offices were to close, there would be no impact to Twitter workers’ jobs; they would simply transition to full-time work-from-home employees,” she said.

The changes are the latest in a series of cost cuts from the social media company, which has pointed to global economic factors as a reason for the reductions.

Twitter is tightening the reins after the board agreed to sell the company to Tesla chief executive Elon Musk for $44 billion in late April. But Mr Musk has since tried to back out of the deal, and the two sides are now in the middle of a contentious legal battle. Twitter is suing Mr Musk in Delaware Chancery Court to force him to complete the deal with a trial planned for sometime in October. — Bloomberg