(From the Daily Mail) A number of major firms have banned employees from accessing Twitter, after it emerged that time wasted on social networking websites was costing businesses £1.38billion each year.

A survey published today found that 57 per cent of workers use sites such as Facebook and Twitter during office hours, spending an average of 40 minutes a week posting messages and sending 'tweets'.

The social networking sites have already been banned by many large firms and some City banks.

Tags: uk, social networking, web 2.0

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