Twitter plans widespread job cuts

Baku. 25 October. REPORT.AZ/ Twitter Inc. is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter.

Report informs according to estimates of Bloomberg, the company may 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.

An announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday, one of the people said.

Notably, the company's net loss last year was more than half a billion dollars.