Twitter to cut 8% of workforce – report

twitter app

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.

No ad to show here.

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.

The report comes as Twitter seeks a buyer, having reportedly been turned down by Walt Disney, Google and Salesforce.

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”.

No ad to show here.

More

News

Sign up to our newsletter to get the latest in digital insights. sign up

Welcome to Memeburn

Sign up to our newsletter to get the latest in digital insights.

Exit mobile version