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Twitter confirms 9% cut in workforce, targets profit in 2017
2016-10-27 16:02:00| Telecompaper Headlines
(Telecompaper) Twitter has confirmed plans to cut 9 percent of its workforce as the company works towards a goal of profitability in 2017. In the third quarter of 2016, Twitter posted a net loss of USD 103 million, on sales up 8 percent year-on-year to USD 616 million. The company said the restructuring, which focuses primarily on reorganizing the company's sales, partnerships, and marketing efforts, is intended "to create greater focus and efficiency to enable Twitter's goal of driving toward GAAP profitability in 2017".
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Category:Telecommunications