Twitter has announced that it will cut 336 jobs or close to 8% of its global workforce, as part of a plan to reduce costs by streamlining its operations.

It is not clear if the company's presence in Ireland will be affected - over 200 people are employed at its EMEA headquarters here.

The tech company recently signed a new lease on 85,000 sq ft of office space in Cumberland House in Dublin's city centre. The company is expected to move there during the second half of 2016.

Twitter confirmed last week that interim CEO, and co-founder Jack Dorsey will become its permanent CEO. He described the move to reduce staff levels as "an extremely tough decision."

The company noted that this is "part of an overall plan to organise around the company’s top product priorities and drive efficiencies."

It added that the savings will be used to invest in driving user growth. As social media has gone mobile the micro-blogging site has struggled to attract new users - it has been overtaken by the photo-sharing app Instagram as the world's second largest social network after Facebook.