Twitter (TWTR) Said Planning to Cut 'Hundreds' of Jobs

October 25, 2016 6:11 AM EDT

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Twitter (NYSE: TWTR) is said to be planning to cut up to 8 percent of its workforce, or around 300 positions, according to Bloomberg.

Sources said the announcement could happen before Twitter posts Q3 results on Thursday.

Discussions of how many jobs might be cut are still liquid and the number is subject to change.

Stagnant growth and fading options for an acquisition have made it tough for Twitter to compensate its employees with stock, which is down 40 percent over the last year.

Shares of Twitter are lower in early trading Tuesday.

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