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Twitter is planning to lay off 9 percent of its global workforce, as the ailing San Francisco tech giant struggles to please Wall Street despite beating earnings expectations.
The company officially announced the cuts today in its third-quarter earnings, days after reports began to surface of the impending cuts. According to Twitter, the majority of the reductions will take place in its sales, partnerships and marketing divisions in order to "continue to fully fund our highest priorities," according to a letter to shareholders.