Twitter may be planning massive job cuts this week. According to a report by Bloomberg, the company may be planning to cut about 8 percent of the workforce, which is 300 people approximately. Sources told the publication that the plans are still fluid and that numbers could change. Futher, It was noted that the job cuts may come before Twitter releases its third quarter earnings report. It was also noted that last year, when Co-Founder, Jack Dorsey took over as CEO, the company laid off the the same percentage of people.
Twitter is finding it hard to compete with other platforms and reports have hinted at a potential acquisition bid. Further, it is expected that Twitter may want to conclude sales talks by October 27. However, reports have also suggested Twitter’s top executives may still be split on the decision.
Multiple companies have reportedly bid on the microblogging platform. These include, Microsoft, Salesforce, Disney, and Google’s parent company, Alphabet. However, in its report, Bloomberg noted that Disney, Salesforce, and Alphabet may have already backed out.