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Twitter lovers, we have a bit of bad news to share with you because according to unnamed sources, Twitter will be having company-wide layoffs next week. The news comes after Twitter recently announced that co-founder, Jack Dorsey will be its new permanent CEO.

The company was looking to lease as much as 100,000 square feet of additional office space near its San Francisco headquarters, but canceled these plans earlier this month. Twitter has been struggling lately with a slowing momentum and with the number of monthly active users essentially flatlining in the United States.

So, will this be it for Twitter? For more details be sure to check out the video above.