Twitter said to be preparing for more layoffs

SAN FRANCISCO — With no acquisition deal in the cards for the struggling social media company, Twitter is planning to cut about 8% of its workforce, or 300 people, as soon as this week, according to a published report.

Bloomberg said an announcement may come before Twitter releases third-quarter financial results on Thursday.

Twitter CEO Jack Dorsey made the same percentage of workforce cuts a year ago, looking to cut costs as he attempts to engineer a turnaround of the company that has seen user and revenue growth flatten.

Twitter recently hired bankers to explore a sale but would-be acquirers such as Salesforce and Walt Disney Co. backed out.

Twitter declined to comment.

Twitter also rescheduled its earnings announcement for 4 a.m. PT on Thursday. Normally Twitter announces earnings after 1 pm PT after the markets close.

Twitter said it moved the timing in response to analyst requests "to avoid overlapping with several other earnings announcements in the Internet sector scheduled for Thursday afternoon." A conference call with analysts is scheduled for 5 am PT on Thursday.

USA TODAY


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