The engineers and executives of large companies with over 700 people are leaving Twitter. The reason that is behind this fleeing of employees from the micro-blogging website is that Twitter is highly restrictive about the period when employees can sell their shares.
Twitter completed about $800 million in the financing round in the third quarter of the year and almost half of this amount has gone to the employees. The employees have found to sell about 20 percent of this share. This offering scheme served pretty well as a release valve but it is over.
The longtime employees of Twitter who are holding completely vested shares then this is the right time for them to unload and the best option will be to quit from Twitter and try selling the shares on the secondary markets that are private. Twitter still has a control on what the former employees do with their respective shares.
The views of different employees are different and those who feel that the best days of Twitter are yet to come in near future will prefer to stick around the website and to hold the shares with them. However, the share related issue is not the only reason for the employees to leave the company.
The other reason that leads to the employees' departures is the change in the guard as Jack Dorsey, the founder of Twitter came back in the beginning of the year to carry over the product development and several other functions like marketing. The others, Biz Stone and Evan Williams have left in order to carry on some other projects. Though this happened in the beginning of the year the aftermath might still prevail.
Anyhow, despite the high profiled exits Twitter is in no ways suffering from any kind of mass exodus and the company is continuing its hiring process and the headcount is increasing steadily.