Twitter to cut a tenth of its global workforce to make a Wall Street buyout more appealing
Social network Twitter has announced that it will cut 9% of its staff as it continues to pursue profit.
Twitter is cutting down its workforce
Although the company outperformed Wall Street predictions, revealed during its Q3 announcement, the company will be looking to restructure into a leaner, more profitable model.
TechCrunch reports that the layoffs will occur in the sales, marketing and partnerships teams, with around 300 positions at risk.
It comes as the company announced revenue of $616 million, with a slight growth in users taking it to 315 million monthly active users.
As buyer interest from Salesforce, Disney and Google seems to wane, the company appears to be on a mission to make itself a more attractive investment to media companies and more than could benefit from access to its data and extensive audiences.
The news won't come as a great surprise, Bloomberg pre-empted the announcement days before the Q3 meeting.