Report : Twitter Plans Hundreds More Job Cuts As Soon As This Week

(RTTNews) - Twitter Inc. (TWTR) is planning widespread job cuts, to be announced as soon as this week, Bloomberg reported citing people familiar with the matter.

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. Planning for the cuts is still fluid and the number could change, the report said.

The report indicated that an announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday.

Twitter recently hired bankers to explore a sale, but the companies that had expressed interest in bidding -- Salesforce.com Inc., The Walt Disney Co. and Alphabet Inc. -- later backed out from the process.