Saturday 24 March 2018

Twitter eyes up office space in expansion plan

Twitter: hidden dangers?
Twitter: hidden dangers?

Peter Flanagan Commercial Property Editor

TWITTER has begun looking for a new office in Dublin, in a move which could lead to a major expansion by the microblogging site.

The company is seeking between 90,000 and 120,000 sq ft of office space in the capital. The search is very much at the preliminary stage, and the firm is thought to be exploring its options in other cities as well.

If Twitter does move to an office of that size, it would give the firm the ability to more than double its workforce in Ireland with relative ease.

Twitter employs some 200 staff currently at a site on Pearse Street in the south city centre.

By comparison, Facebook, which employs more than 500 staff in the capital, is in the process of moving into a 120,000 sq ft building in Grand Canal Square.

Technology companies took advantage of the crash in office rents here to take large chunks of office space on favourable terms. By moving into such a large amount of space, Twitter would overnight give itself the freedom to hire staff at its own pace and not have to worry about finding places for new staff.

Most of its employees at its European headquarters here work in sales, human resources, finance, marketing, engineering and user services.

The firm has been under pressure in recent days, with its share price plunging since hitting an all-time high of $74 in December. However they have fallen steadily since. On Tuesday the shares plunged 18pc to a new low of $31.85 (€22.86).

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