Twitter may be considered an icon of today’s internet era, but its financial status has never been shining by most accounts.
Now, Bloomberg reports that the company plans to lay off 300 staff, representing a not-insignificant 8% of their workforce.
The publication, citing “people familiar with the matter”, said that the layoffs might be announced this week before Twitter‘s third-quarter earnings meeting on Thursday. It added that the number of laid off employees could still change.
Twitter hasn’t been a money maker by any stretch, having sought a sale instead
So who would be affected by these job cuts? TechCrunch reports that sales teams are likely to face the axe, ostensibly due to slow revenue growth.
It wouldn’t be the first time that so many employees were laid off either, as 8% of the workforce (over 330 employees) was laid off in October 2015.
Back then, new CEO Jack Dorsey announced the layoffs in (surprise) a tweet, saying that he had to make “tough but necessary decisions”.