Rumor: Twitter will soon lay off 300 employees

Bloomberg reports citing sources that Twitter will soon lay off about eight percent of its employees. That equates to three hundred people. Twitter may announce the measures this week.

The announcement would come before the release of the company’s quarterly earnings, Bloomberg said. According to the anonymous sources, the exact numbers can still change, because the plans are not yet complete. A company spokesperson declined to comment on Bloomberg.

A year ago there were also layoffs at Twitter. At the time, eight percent of employees were laid off, which amounted to 336 people. The decision was made shortly after the appointment of the new CEO, Jack Dorsey. With the reorganization, the company wanted to pay more attention to certain areas of the site, but did not disclose which ones.

Recently, large companies have shown interest in an acquisition of Twitter. Among them were Google, Walt Disney and Salesforce. It later became clear that the companies declined to make an offer. Salesforce was the last party to show interest, but the CEO announced in an interview that no offer would be made. Twitter is still looking for potential buyers.

According to Bloomberg, Twitter is losing money and the value of its shares has fallen about 40 percent in the past year.