Twitter’s attempt to sell itself has not gone smoothly as many of its potential buyers have pulled out throughout the last few weeks. With the social media service losing money and sales growth slows down, Twitter may be planning job cuts in the very near future.
According to a report by Bloomberg, Twitter is reportedly planning to cut about eight percent of its workforce, which is around 300 people. Of course, the job cutting plan s still in its planning stages, so it is possible that the number of employees being laid off could be more that just 300 people.
With Twitter about to release its third-quarter earnings on Thursday, the announcement about job reductions may come before the company releases its earnings. However, Twitter respresentatives declined to comment on these rumours, so it is only a matter of time until Twitter themselves confirm the planned layoffs.
Source: Bloomberg