Depending on whom you ask, Facebook is either the savior or destroyer of journalism in our time. An estimated 600 million people see a news story on Facebook every week, and the social network’s founder Mark Zuckerberg has been transparent about his goal to monopolize digital news distribution. “When news is as fast as everything else on Facebook, people will naturally read a lot more news,” he said in a Q&A last year, adding that he wants Facebook Instant Articles to be the “primary news experience people have.”
With no acquisition deal in the cards for the struggling social media company, Twitter is planning to cut about 8% of its workforce, or 300 people, as soon as this week, according to a published report.
Twitter Inc faces an uncertain future after Saleforce.com Inc (CRM.N), the last of the companies believed to be interested in buying the troubled social network, said on Friday that it would not make a bid.
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