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(Reuters) - Twitter Inc said it would lay off up to 336 employees, or about 8 percent of its global workforce, as part of a plan to streamline operations. The layoffs, mainly in the company's product and engineering functions, come about a week after the microblogging service provider appointed co-founder Jack Dorsey its permanent chief executive. "And the rest of the organization will be streamlined in parallel." Shares of Twitter, which had about 4,100 employees globally as of June 30, rose 1.5 percent to $29.18 in premarket trading on Tuesday.
Johnson & Johnson, continuing a tough year of declining revenue, posted a 29 percent drop in third-quarter earnings as it was hammered by plunging sales of its hepatitis C medicine and unfavorable currency exchange rates.