Twitter’s seemingly never ending problems are
continuing. Earlier this month, it was reported that all
of the company’s potential buyers were no longer
planning to make bids for the microblogging site. Now,
Twitter may be about to cut eight percent of its
workforce, or about 300 people, according to
Bloomberg.
Citing people familiar with the matter, the report
claims that the number of layoffs could change before
being officially announced. TechCrunch notes that the
company’s sales team could be hit the hardest.
Should the cuts take place, it will be a case of Déjà vu
for Twitter. 12 months ago, one of Jack Dorsey’s first
tasks after becoming permanent CEO was to announce
that eight percent of the company’s global workforce –
around 336 people – would lose their jobs as part of an
internal restructuring plan.
Disney, Apple, and Google parent Alphabet had all
been linked with a possible Twitter acquisition, but the
three companies recently ruled themselves out. It left
cloud computing giant Salesforce as favorite to make a
bid, but CEO Marc Benioff said he walked away from
the deal after his shareholders protested.
News of the cuts arrived just after Twitter revealed it
would be releasing its Q3 2016 earnings report at 4AM
PST on October 27 instead of the usual time of 1PM
PST. The company said it didn’t want to compete with
other tech giants releasing their financials on the same
day, though the time change is probably more to do
with announcing job losses.
With stagnating user growth and a share price that has
dropped 40 percent in the last year, Twitter is in
trouble. We’ll find out just how bad things are when its
Q3 figures are released on Thursday.
source: www.getontopc.com/2016/10/twitter-reportedly-set-to-announce-300.html?m=1