The social media website has hired a former Apple Director to promote a diversified workforce.
Twitter, Inc. has been widely criticized for not having a diversified workforce but this is about to change as the social media service has officially hired Jeffrey Siminoff. The newly appointed worker has been appointed as the micro-blogging website’s Vice President of Diversity and Inclusion, according to a Twitter post by Ms. Van Huysse, the previous owner of the position.
Mr. Jeffery was previously a Director at Apple, which is also criticized for its lack of diversified culture. He was also the co-founder of a gay, lesbian and transgender organization, called ‘Out Leadership’. Twitter has always promoted an egalitarian culture but has never actually lived up to it, like many other companies in the industry. This is considered as a major step by a technology company to go against the perception.
A civil rights leader has often brought this issue up in meetings in Silicon Valley, in order to encourage hiring of diversified staff and furthermore, asked for such organizations to post reports of their workforce and leadership teams. The Silicon Valley giant, Apple, has even started posting reports of its workforce but it has also stated that even though the business has made progress, it still needs improvement.
At the trading session on December 29, Twitter Stock was traded at a share price of $22.47 indicating a decrease of 0.27%. The trade commenced at share price of $22.63, seen at a high price of $53.49, and a low price of $21.01. Presently, the market capitalization of the social media network is 15.69 billion.
In the coming year, the social media organization is expecting an increase of 61.97% growth in the earnings per share. For the current year, the EPS growth rate was reported to be 71.80%. Investors have been blaming the sluggish user growth for the low share price of the stock in comparison to other social media giants, such as Facebook, Google, etc.
Without a good user base, Twitter will not have a big audience for its platform like Snapchat or Instagram. If the micro-blogging organization works on getting more audience and a sufficient user base, it will be able to attract more businesses towards itself. The strength of the website currently lays in the fact that it lets businesses interact with its customers, which makes it easier for businesses to monitor topics and provide customer support to the users.
Corporate management is concerned about the declining share price and user growth.