Tech

Twitter plans to sack 8% of its staff

Published

7 years ago

October 25, 2016

As it approaches its third quarter earnings release, Twitter is reportedly planning to announce extensive job cuts this week.

The ailing social platform may cut approximately eight per cent of its staff, around 300 people, recalling a similar move it made last year when current CEO Jack Dorsey took over the reins, reports Bloomberg.

Read also: AT&T set to acquire Time Warner for $85bn

Earlier on Monday, Twitter announced its third quarter earnings release was being rescheduled to the pre-market time slot of 4 am PT (7am ET). The norm for tech companies is to report earnings after the market closes at around 1 pm PT, to accommodate the East Coast.

For a company that’s currently under the microscope — courtesy of ongoing speculation regarding its acquisition — the move has led to much debate.

However, it could simply be a case of Twitter rescheduling to avoid clashing with other earnings announcements on the day, including reports from Amazon and Google.

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