Layoffs Likely at Twitter, Reports Ad Age

Twitter, having failed to sell itself, is planning to fire about 8% of its workforce as the struggling social-media company prepares to go it alone for the time being, reports Ad Age.

The Ad Age article, in part, added:

“Twitter may eliminate about 300 people, the same percentage it did last year when co-founder Jack Dorsey took over as chief executive officer, according to people familiar with the matter. 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. A Twitter representative declined to comment.

“Twitter, which is unprofitable, is trying to control spending as sales growth slows.”