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Twitter to lay off more than 300 employees
Eight percent of the company’s staff is being purged.
Dorsey said that the layoffs and restructuring of the workforce are needed to better streamline products Twitter is developing, and product and engineering teams will be impacted the most. Engineering will still have the most employees at the company, but will “move much faster with a smaller and nimbler team.”
In a letter to employees that accompanied a filing to the SEC, Dorsey said the employees will be well compensated, and Twitter will help them secure new jobs. The restructuring will cost Twitter between $5 million and $15 million.
Dorsey said the Twitter roadmap will need to be more “streamlined,” citing the new Moments feature that focuses on real-time news and information as the first of many experiences to be developed across Twitter, Vine, and Periscope, and called it a “bold peek into the future of how people will see what’s going on in the world.”
Illustration by Max Fleishman
Selena Larson is a technology reporter based in San Francisco who writes about the intersection of technology and culture. Her work explores new technologies and the way they impact industries, human behavior, and security and privacy. Since leaving the Daily Dot, she's reported for CNN Money and done technical writing for cybersecurity firm Dragos.