Twitter will cut 300 employees. Again.
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Twitter Inc. may cut about 8% of the workforce (about 300 people), the same percentage it did last year when co-founder Jack Dorsey took over as chief executive officer.
An announcement about the job reductions may come before Twitter releases 3rd-quarter earnings on Thursday.
Twitter declined to comment.
Twitter, which loses money, is trying to control spending as sales growth slows.
The company recently hired bankers to explore a sale, but the companies that had expressed interest in bidding (Salesforce.com Inc., The Walt Disney Co. and Alphabet Inc.) later backed out from the process.
Twitter’s losses and 40% fall in its share price the past 12 months have made it more difficult for the company to pay its engineers with stock. That has made it harder for Twitter to compete for talent with giant rivals like Alphabet Inc.’s Google and Facebook Inc. Reducing employee numbers would relieve some of this pressure.