Twitter is reportedly planning to lay off 300 employees

Nothing seems to be working for Twitter at the moment. So, after all, the bad news at possible acquisition front, the micro-blogging site is now planning to trim 8 percent of its staff or around 300 people, reports Bloomberg.

The official announcement may come before the company releases its third-quarter earnings on Thursday.

“Twitter Inc. is planning widespread job cuts, to be announced as soon as this week. Planning for the cuts is still fluid and the number could change,” report sources privy of the matter.

Twitter’s Sales team seems to be the one that will bear the brunt this time around. Slowing revenue growth may be the culprit, especially as alternative platforms like Facebook and Snapchat continue to grow much more quickly.

The micro-blogging platform was hoping for a turn around when Jack Dorsey took over last year. Dorsey started off in a similar way cutting down on 8 percent of the company’s workforce, and throughout his time as CEO, has seen Twitter’s value cut nearly in half. That’s been a result of flat user growth, slowing revenue growth, and being constantly dogged by issues surrounding trolls on the platform.

Even after introducing a host of changes on the platform to make it more user-friendly, nothing really has paid off.

Ray of hope came in the form of reports that Salesforce, Disney, and others were keen on buying the company. That added billions of dollars to Twitter’s market cap before being promptly stripped away as soon as it became clear none of the companies were interested.