Investors cheered after Twitter CEO Jack Dorsey’s announcement of plans to cut up to 336 jobs, or 8 percent of the global workforce, as part of an effort to strengthen long-term growth. Dorsey, the company cofounder who last week reclaimed his former position as chief executive, announced the painful round of cuts in a memo to employees, emphasizing plans to send a clear message, walk a straight line toward profitability, and focus on making Wall Street and Silicon Valley understand how Twitter plans to monetize its core product offerings.
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Twitter Slashes Workforce as Dorsey Aims to Restore Confidence
Posted by: David Jones October 14, 2015 09:04 AMInvestors cheered after Twitter CEO Jack Dorsey’s announcement of plans to cut up to 336 jobs, or 8 percent of the global workforce, as part of an effort to strengthen long-term growth. Dorsey, the company cofounder who last week reclaimed his former position as chief executive, announced the painful round of cuts in a memo to employees, emphasizing plans to send a clear message, walk a straight line toward profitability, and focus on making Wall Street and Silicon Valley understand how Twitter plans to monetize its core product offerings.