Twitter Planning Hundreds More Job Cuts as Soon as This Week

One month ago, it was reported that Twitter is going to fire 3000-4000 employees. This report is seemed to be true because Twitter has taken the decision to fire almost 8% of its employees. The reason behind this is that the Twitter is losing its control in the ranking of popular social media companies in the entire world. It seems that the company is preparing itself to go alone for some time.

According to the reports, Twitter is going to fire 300 people just like the company did last year when co-founder Jack Dorsey became CEO of the company. However, these numbers may change with the passage of time.

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.

It is a bad time for the Twitter because the company is losing its investment and is now trying to control its spending on sales growth slow.

Recently, the company has hired bankers to help the company in exploring sale but the companies were interested in some other organization and backed out from the process.

As compared to the last year, Twitter loses almost 40% of its shares and the company is finding difficulty in paying its engineers with stock. This is making the problems more complex and it’s now difficult for the company to compete with the rival giants like Facebook,Google etc. In order to get a relief in this pressure situation, the company is reducing employees. Today, half of the shares of the company has been fallen yet.