Twitter to reduce workforce by 8%

(Telecompaper) Twitter announced plans to cut 336 jobs, equal to around 8 percent of its total workforce. Twitter said in a SEC filing that the restructuring is part of an overall plan to focus on its top product priorities and drive efficiencies throughout the company. The cost savings from the lay-offs will be reinvested in product development. Twitter said the restructuring will lead to about USD 10-20 million in one-time costs, of which USD 5-15 million in cash, which should be taken in the