Report: Twitter planning to cut hundreds of jobs this week read more at here www.spinonews.com/index.php/item/1403-report-twitter-planning-to-cut-hundreds-of-jobs-this-week

Twitter is planning to cut hundreds of jobs, according to a Bloomberg report.

Twitter is planning to eliminate about 300 jobs, or 8 percent of its workforce- recalling a similar move it made last year when current CEO Jack Dorsey took over the reins.

Rumors have been swirling for weeks that several companies, including Google, Salesforce, Disney and Apple, were interested in buying Twitter.

 

To avoid conflicting w/ peer calls, we've rescheduled Q3’16 earnings release/call to pre-market on 10/27 https://t.co/njFKHWLDoe #TWTR $TWTR

— TwitterIR (@TwitterIR) October 24, 2016

 

The news comes ahead of the company’s release of its Q3 2016 earnings on October 27. Earlier on Monday, Twitter announced its third quarter earnings release was being rescheduled to the pre-market time slot of 4 a.m. PT (7 a.m. ET).

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.

Twitter representatives declined to comment on the report.