Twitter reportedly planning to cut hundreds of jobs

Twitter's San Francisco headquarters located at 1355 Market St

Financially troubled company, Twitter is planning to cut hundreds of Jobs. The Company going to eliminate 300 jobs or 8% of its workforce, unidentified people described as familiar with the matter told the media outlet.

Rumors have been swirling for weeks that several companies, including Google, Salesforce, Disney and Apple, were interested in buying the financially troubled social network. While all of those companies have reportedly bowed out, layoffs could help Twitter lighten the load and make itself more affordable to potential suitors.

The social network has reportedly told potential buyers it wants to wrap up negotiations on a sale by October 27, when it announces its third-quarter earnings.

Possibly announcement of job cut could come as soon as this week ahead of its third-quarter financial results.

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