Report: Twitter Preparing To Cut Hundreds Of Jobs After Failing To Find Buyer

After failing to secure a buyer for the company, Twitter is now reportedly looking to slash hundreds of jobs, totaling about 8% of its workforce.

According to a report from Bloomberg, citing ever mysterious “people familiar with the matter,” Twitter may eliminate about 300 people, which is the same percentage it let go last year when co-founder Jack Dorsey stepped in as chief executive officer.

Those numbers could change, as planning isn’t final yet. If the workforce reductions do happen, Twitter may announce them before it releases third-quarter earnings on Thursday, one of the insiders suggested.

Rumors of Twitter trying to sell itself started swirling in late September, with Google as a rumored buyer.

Walt Disney Co. and Salesforce were also reportedly interested in buying Twitter, but eventually, all potential suitors walked away from the table: first Google and Disney dropped out in early October, followed by Salesforce days later.

Twitter Planning Hundreds More Job Cuts as Soon as This Week [Bloomberg]