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Here's Why Twitter (TWTR) Stock Got Slammed Today

NEW YORK (TheStreet) -- Twitter (TWTR - Get Report) shares closed Monday's trading session down 6.81% to $28.75 on heavy trading volume as investors negatively interpreted the news that the microblogging site is reportedly laying off its employees beginning this week, according to Re/

This action comes after Jack Dorsey stepped in to become the permanent CEO of the San Francisco-based company earlier this month.

While cutting jobs is intended to improve the company's efficiency and is often viewed as good news for investors, some shareholders are not viewing it positively.

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Axiom Capital analysts believe that the initial layoffs are hinting at revenue pressures, Barron' said.

While Twitter is reportedly not responding to rumor and speculation, Re/code states that it's likely the layoffs will impact engineers and other departments.

Overall, "While we can think of both positive and negative investor takeaways from this news, we believe it primarily is a reminder that much work and possible near-term disruption will be required to achieve the type of long-term improvements hoped for by management, the board, and by investors," Citigroup...