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Twitter Inc Shelves Its U.S. Expansion Plans As Growth Stalls

Twitter Inc (NYSE:TWTR) has reportedly abandoned its plans for a big expansion into Uber and Square’s 1455 Market St Headquarters, says a report from Biz Journals, which cites three people familiar with the company’s plan. A hiring slowdown has been cited as the primary reason for shelving the plan.

Slow user growth to blame

Twitter had almost finalized the deal with 1455 Market landlord Hudson Pacific Properties before putting it on hold. With this deal, Twitter would have added about 100,000 square feet of former Bank of America space which is a block away from its current headquarters located at Market Street. The last-minute backing out by the company indicates that it is scrambling to regroup.

Twitter’s slowing...