Twitter to slash 9% of workforce, kill Vine

Twitter yesterday announced plans to lay off more than 300 people and shut down Vine.

The social media company has produced nine straight quarters of slowing revenue growth.

Twitter bought Vine, which had yet to launch, in late 2012. It launched in January 2013 and become a popular format for 6-second clips of sports highlights, visual effects and comedy.

According to 7Park Data research, the percentage of people now using Vine in the United States is below 1 percent. That's down from a peak of nearly 4 percent two years ago.

Read more from the Los Angeles Times.