Twitter just announced its financial earnings for Q3 2016 and inside was a pink slip for 350 employees. It was rumored earlier last week that the company will be letting go about 10 percent of its workforce to cut costs and try to return to profitability.
Coming to their Quarterly earnings, Twitter actually beat analyst expectation by earning $616 million compared to a forecast of about $600 million but their growth has slowed. Even user growth is now slowing down with just a 3 percent YoY increase.
If you haven't been following the news, Twitter has been looking for a buyout but potential suitors including the likes of Salesforce and Disney didn't make any bids.
Given the job cuts, which would be focused on the marketing and sales departments, Twitter is aiming to look better for buyers. The company is planning to enforce stricter policies to handle safety, online abuse, and trolling that has become rampant on the platform.
