Twitter Inc., the parent company of social network Instagram, is cutting its workforce at its global headquarters in Los Angeles by 2,000 employees, including about 400 in Los Angles.
The move comes as Twitter is looking to boost its growth amid a global slump in user growth and revenue.
The layoffs will take place as Twitter Inc.’s board of directors begins a review of its strategy and plans to announce its next major move this week, according to a person familiar with the matter.
The company has said it is on track to grow at least 50% this year, but the job cuts will likely affect its user growth, which has been falling.
Twitter’s market value is $9.3 billion.
Instagram, which is owned by Facebook Inc., is worth about $3.2 billion.
Twitter declined to comment.
The job cuts come as Twitter faces increased scrutiny for its business practices, including how it handles allegations of bias and harassment, including the firing of three employees.
Twitter has faced scrutiny for failing to properly discipline employees for alleged harassment, and it recently agreed to pay $200 million to settle allegations it suppressed critical reporting.
Twitter is still the fastest-growing social media platform with a market value of $21.3 million, up from $17.5 million in 2014.
Twitter CEO Jack Dorsey said earlier this year he wants to make Twitter “the best place to do things in a way that feels great to people,” and that “we have a lot of work to do.”