SAN FRANCISCO (Oct 25): Twitter Inc. is planning widespread job cuts, to be announced as soon as this week, according to people familiar with the matter. Planning for the cuts is still fluid and the number could change, they added. An announcement about the job reductions may come before Twitter releases third-quarter earnings on Thursday, one of the people said. Twitter, which loses money, is trying to control spending as sales growth slows. That has made it harder for Twitter to compete for talent with giant rivals like Alphabet Inc’s Google and Facebook Inc. Reducing employee numbers would relieve some of this pressure.

Source: The Edge Markets October 25, 2016 00:33 UTC