Twitter cuts 9% of staff and kills off Vine app

Twitter is cutting its staff by 9% after a widely rumored sale process appears to have come to nothing.

The layoffs are expected to impact about 350 employees across sales, partnerships and marketing efforts, according to the company. The goal is to push Twitter (TWTR, Tech30) toward profitability as an independent company.

"The restructuring allows us to continue to fully fund our highest priorities, while eliminating investment in non-core areas and driving greater efficiency," Twitter said in its third-quarter letter to shareholders on Thursday.

http://money.cnn.com/2016/10/27/technology/twitter-layoffs-earnings/index.html

by Seth Fiegerman   @sfiegermanOctober 27, 2016: 7:45 PM ET