Twitter to cut more than 300 jobs in near future: sources

Twitter could lay off 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.”

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, Walt Disney and Alphabet reportedly shied away, Meanwhile, growth has stalled for the popular but loss-making micro-blogging platform.

Source: CNBC