Twitter has decided to shut down its video-sharing micro site Vine. The company said that it would discontinue the service "in the coming months."

Recently, Twitter has been reshuffling its staff, and the layoffs have hit Vine with many employees being shown the door. The exact number of employees that would be laid off has not been announced. It is also unclear whether they will be working at Twitter in some capacity or if they have been laid off completely.

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Twitter has assured its users that it would not be deleting the current Vines from its platform "for now." In a post, Twitter said, "We value you, your Vines, and are going to do this the right way."

"You'll be able to access and download your Vines. We'll be keeping the website online because we think it's important to still be able to watch all the incredible Vines that have been made," the company added.

Twitter bought Vine back in 2012 with the intention of using the six-second looping video sharing video site would complement its micro blogging site. Initially, it was a super success with people utilizing it in various formats such as for sports highlights, visual effects, and comedy.

Vine hit a rock since Instagram introduced videos in 2013 which blunted Vine's growth. Eventually, its founders called it quits and left the company with Twitter further failing to invest in other properties. 

Twitter will be laying off nice percent of its workers as the company is trying to pull itself out of a financial hole.