Twitter is reportedly planning to slim down a bit.
The social media company is said to be announcing a round of layoffs as soon as this week, according to a report on Monday evening from Bloomberg, citing anonymous sources. The layoffs will shrink Twitter’s workforce by about 8%, or 300 employees, according to the report, and may be announced before the company releases its quarterly earnings on Thursday morning, though the size and timing of the cuts may change.
Twitter shed 8% of its employees a year ago when co-founder Jack Dorsey officially rejoined the company as CEO. Dorsey was expected to steer the company around, while also remaining CEO of payments processing company Square, which he co-founded in 2009.
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It’s unclear if the cuts will affect Periscope, the live video broadcasting service Twitter acquired in 2015.
A new round of cuts would come at a critical time for the company, which is exploring a potential sale. Interested acquirers so far—including Salesforce and Disney—have walked away, however. Meanwhile, Twitter is also looking to get its spending under control and to continue to decrease its losses in the face of slowing user growth.
Twitter declined to comment.