The lack of a buyer for Twitter is coming back to bite it:

Twitter is gearing up to lay off 300 employees this week, Bloomberg reports.

That means the company’s workforce will shrink by about 8 percent.

Lord, I hate saying this, given that I’ve been on the wrong side of the layoff equation, and know how utterly horrible it is, but Twitter probably needs this. It’s clearly too bloated for any reasonable expectation of future revenues, and that can’t last forever.

Best wishes to my friends there, though.