Twitter plans to shrink its workforce by about 8%

Twitter plans to shrink its workforce by about 8%

In a Monday evening report, Bloomberg said that microblogging service Twitter has plans underway to shrink its workforce, and may announce a round of layoffs as early as the ongoing week.

The report, based on the information shared by unanimous sources, has revealed that the looming job-cut move by Twitter will likely affect nearly 8 percent -- that is, approximately 300 employees -- of the company's total workforce.

The Bloomberg sources also said that the announcement of the layoffs by Twitter may come ahead of the company's quarterly earnings report scheduled for Thursday morning. However, it is possible that there may be a change in the size and timing of the job-cuts.

Meanwhile, as per a TechCrunch report, also citing unidentified sources, the layoffs to be announced by Twitter will probably affect the company's sales teams; with the apparent reason behind the layoffs being the company's slowing revenue growth.

However, it is not clear, as yet, whether the impending job-cuts at Twitter will affect live video broadcasting service Periscope, which was acquired by Twitter last year.


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