Twitter Plans to Cut Up to 8% of Its Global Workforce
Twitter Inc.'s Jack Dorsey is making his first round of job cuts, a week after being appointed chief executive officer.
The social-media company is eliminating as many as 336 employees, or about 8 percent of its global workforce, the company said in a filing Tuesday.
Twitter estimates the restructuring will cost between $5 million and $15 million, with the expenses coming mostly in the fourth quarter.
"We are moving forward with a restructuring of our workforce so we can put our company on a stronger path to grow," Dorsey said in a letter to employees that was included in the filing.
The social-media company is eliminating as many as 336 employees, or about 8 percent of its global workforce, the company said in a filing Tuesday.
Twitter estimates the restructuring will cost between $5 million and $15 million, with the expenses coming mostly in the fourth quarter.
"We are moving forward with a restructuring of our workforce so we can put our company on a stronger path to grow," Dorsey said in a letter to employees that was included in the filing.