Report: Twitter to cut 300 employees
SAN FRANCISCO (KTVU) - San Francisco-based Twitter reportedly plans to lay off as many as 300 employees.
Bloomberg reports that Twitter could make those job cuts before releasing its third-quarter earnings on Thursday.
Last year, Twitter announced plans to lay off as many as 336 employees, about 8 percent of its workforce.
In a previous KTVU report longtime high-tech analyst Larry Magid said, "The fact is that Twitter is not a profitable company. Twitter is not getting the kind of leverage that I think it wants. It's isn't growing as fast as it wants and it's gonna have to cut back expenses."
The company has yet to confirm or deny the layoff rumors.