Twitter to lay off hundreds of jobs in near future, Bloomberg reports

Twitter may soon cut hundreds of jobs

Twitter may soon cut hundreds of jobs  Tuesday, 25 Oct 2016 | 7:11 AM ET | 00:38

Twitter could cut as many as 300 jobs, or about 8 percent of its workforce, as soon as this week, Bloomberg has reported.

The Bloomberg report late Monday said that an announcement about the job cuts could come before Twitter releases third-quarter earnings on October 27, but that planning around the headcount reduction was “still fluid.”

To read the full Bloomberg report, click here.

A Twitter spokeswoman declined to comment on the report.

In October 2015 Twitter announced 336 layoffs, or about 8 percent of its global workforce at the time.

Earlier this month Twitter hired bankers to explore a sale but prospective buyers such as Salesforce.com, Walt Disney and Alphabetreportedly shied away, Meanwhile, growth has stalled for the popular but loss-making micro-blogging platform.

source”cnbc”