Jack Dorsey was only made Twitter’s CEO once again earlier this month but has already announced some changes in the company.
Announcing details on Twitter, Jack Dorsey revealed that Twitter will be laying off 336 employees under a new restructuring, cutting off around 8% of their workforce.
Here’s the Tweet:
Made some tough but necessary decisions that enable Twitter to move with greater focus and reinvest in our growth. http://t.co/BWd7EiGAF2
— jack (@jack) October 13, 2015
Doresy also sent out a letter to all Twitter Employees to let them know about the job cuts, detailing that those who are let off will receive ‘generous exit packages’ and will be given help finding a new job.
According to the company the majority of job cuts will come from the company’s product and engineering teams.
Twitter will pay between $10 – $20 million as part of the restructuring.