336 Employees To Be Let Go — Twitter Layoffs

The move comes less than a week after Dorsey, one of the founders of Twitter, returned to the job of CEO as part of an effort to revive growth. His second major decision will likely be a lot less popular.

Twitter has announced it is cutting more than 300 jobs, or roughly 8% of the company’s global workforce.

He also pointed out that the “rest of the organisation will be streamlined in parallel”.

In an email to employees with the subject line “a more focused Twitter”, Dorsey said the layoffs will be hard, but they will “put our company on a stronger path to grow”.

The layoff is aimed to strengthen the company which has been facing a slow growth in terms of its users and is facing tough competition from other rivals in the social media market.

He goes on to say: “We are doing this with the utmost respect for each and every person”.

The microblogging site will be bearing about $5 million – $15 million in restructuring charges, along with $10 million – $20 million in severance costs.

“We feel that executive can move faster using a more nimble and smaller team, while remaining the greatest fraction of our staff”, Dorsey said to employees in a page”. The high end of the company’s previous forecast predicted revenue of $560 million and adjusted earnings of $115 million.

Dorsey said the “roadmap is also a plan to change how we work, and what we need to do that work”.

“Thank you all for your trust and understanding here”, Dorsey said in his email. “This isn’t easy. But it is right”, Dorsey wrote to employees.

Twitter recently announced Moments, a feature starting in the United States which aggregates tweets into news “stories” essentially allowing a user to get an up-to-date view of what’s going on in the world through tweets, original news writing and video content.