Twitter Struggles with Financial Stability, Shutters Vine Videos

Despite announcing a better-than-expected Q3 earnings report with revenue of $616 million, up 8 percent year-over-year, Twitter confirmed that it plans to lay off 9 percent of its employees, reports Recode. In a blog post that surprised many, the company also announced that it would discontinue its Vine mobile app for sharing short videos. (The website will remain online so fans can watch the Vines already created.) Vine has recently experienced a mass exodus as influencers have transitioned to Snapchat, Facebook and YouTube. Meanwhile, rumors continue to circulate that Twitter could be up for sale sometime soon.

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