Twitter, the social media giant that’s been the topic of recent M&A scuttlebutt, said it is cutting 9% of its workforce globally amid a restructuring aimed at driving profitability.
“The restructuring, which focuses primarily on reorganizing our sales, partnerships and marketing efforts, is intended to create greater efficiency as we move toward our goal of driving toward GAAP profitability in 2017,” the company said in its Q3 shareholder letter, noting that Twitter will be reducing its number of sales channels from three to two.
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Twitter also announced that it will be shutting down the mobile app for Vine, its looping video clip service, in the coming months, but will be keeping the Vine website online.
