Twitter Beats Revenue, User Estimates and Cuts 9% of Workforce
- Quarterly earnings, user growth beat analysts’ expectations
- Twitter says it’s working to simplify how it operates
Twitter Cuts Jobs in New 2017 Profitability Goal
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Having failed to find an acquirer, Twitter Inc. has sketched out a restructuring plan aimed at becoming profitable by next year.
The social media company will start by eliminating about 9 percent of its workforce, it said Thursday. Twitter’s third-quarter results also showed initial signs of progress, as revenue and user growth beat analysts’ expectations, helping Chief Executive Officer Jack Dorsey make a case for staying independent while seeking to restore growth.