Lacking IP and dying slowly, Twitter to fire hundreds of workers

Lacking IP and dying slowly, Twitter to fire hundreds of workers

Twitter plans to fire hundreds of workers. It could announce the layoffs before an earnings report on Thursday, Bloomberg reported. The money-losing company’s share price has fallen about 40% in the past 12 months, making it hard to pay engineers with stock, much less compete for talent. Potential buyers of the company, including Alphabet and Salesforce.com, have backed away.

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, the people said. Planning for the cuts is still fluid and the number could change, they added. The people asked not to be identified talking about private company plans.

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