Twit­ter said to be plan­ning more job cuts soon

China Daily (USA) - - BUSINESS - By BLOOMBERG

Twit­ter Inc is plan­ning wide­spread job cuts, to be an­nounced as soon as this week, ac­cord­ing to peo­ple fa­mil­iar with the mat­ter.

The com­pa­ny­may cut about 8 per­cent of the work­force, or about 300 peo­ple, the same per­cent­age it did last year when co-founder Jack Dorsey took over as chief ex­ec­u­tive of­fi­cer, the peo­ple said. Plan­ning for the cuts is still fluid and the num­ber could change, they added. The peo­ple asked not to be iden­ti­fied talk­ing about pri­vate com­pany plans.

num­ber of pos­si­ble job cuts at Twit­ter Inc

An an­nounce­ment about the job re­duc­tions may come be­fore Twit­ter re­leases thirdquar­ter earn­ings on Thurs­day, one of the peo­ple said. A Twit­ter rep­re­sen­ta­tive de­clined to com­ment.

Twit­ter, which has been los­ing 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 per­cent 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’sGoogle and Face­book Inc. Re­duc­ing em­ployee num­bers would re­lieve some of this pres­sure.

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