Social media practitioners who like to create and view video content 6 seconds at a time will be sad to hear Twitter's latest news: the money-losing social media platform is lopping off Vine.
"Nothing is happening to the apps, website or your Vines today," the company said in a widely shared post. "We value you, your Vines, and are going to do this the right way. You’ll be able to access and download your Vines. We’ll be keeping the website online because we think it’s important to still be able to watch all the incredible Vines that have been made. You will be notified before we make any changes to the app or website."
Although speculation has swirled about a possible buyer, Twitter finds itself unacquired and unprofitable. Axing Vine is part of a larger restructuring; 9 percent of Twitter's workforce is getting pink slips.
Shares of Twitter, which have tumbled 27 percent in the past month as possible suitors have wandered away, rose 34 cents, or 2 percent, to $17.63 in afternoon trading on Thursday, the AP reported.
The San Francisco company said it expects to take $10 million to $20 million in charges as it lays off more than 300 of its 3,860 workers.
"We have a clear plan, and we're making the necessary changes to ensure Twitter is positioned for long-term growth," CEO Jack Dorsey said in a company release.
Vine stars don't need to worry about their content disappearing today but should probably start storing somewhere else soon.
"We’ll be working closely with creators to make sure your questions are answered and will work hard to do this the right way," the joint message from Vine and Twitter said. "We’ll be sharing more details on this blog and our Twitter account, and will notify you through the app when we start to change things."
Here are some of my favorite Vines. *tears*
When Jeff Francoeur went up to the bat for the first time after his return to the Braves (a tenure that lasted a little longer than 6 seconds):
When Sam Massell, 89, married Sandra Gordy, 70:
When "It's the Great Pumpkin, Charlie Brown" came on right before a presidential debate and sort of seemed to set the tone for the night:
When they set out food in the newsroom to celebrate the AJC Dining Guide and we all got super excited: