Report: Twitter Could Lay Off As Many As 300 Workers This Week
SAN FRANCISCO (CBS SF) -- Reports are indicating that Twitter could be laying off as many as 300 employees as soon as this week.
According to an article published by Bloomberg, the San Francisco-based social media giant will cut eight percent of its workforce this week.
Twitter has been losing money and struggling with growth for some time. A recent quest to find a buyer for the company has come up empty, though Disney, Salesforce.com and Google parent company Alphabet have all been rumored as possible interested parties.
According to the report, an announcement about the job reductions may come before the company releases third-quarter earnings on Thursday.
Currently, Twitter stock is down nearly four percent.
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