Returning Twitter CEO Jack Dorsey has already set about improving the performance of the ailing company by cutting over 300 jobs.
A filing with the Securities and Exchange Commission (SEC) shows that the Twitter board approved a move to cut the jobs on Monday.
“The board of directors approved a restructuring and reduction in force plan of up to 336 employees, constituting approximately eight percent of the company’s global workforce," said the filing.
“The restructuring is part of an overall plan to organise around the company’s top product priorities and drive efficiencies throughout the company. The company intends to reinvest savings in its most important priorities to drive growth."
Twitter explained that the move will cost $10m to $20m in severance payments.
Dorsey confirmed the job cuts in a company-wide email, also published by the SEC, in which he said that the engineering team will take the bulk of the job cuts, but that other departments will also be affected.
“We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce. And the rest of the organisation will be streamlined in parallel,” he said.
"This isn't easy. But it is right. The world needs a strong Twitter, and this is another step to get there."
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
Dorsey's move comes just a week after he was officially reappointed as CEO of Twitter some seven years after being ousted from the position.
He returned at a difficult time for Twitter, with many questioning its long-term future as the firm struggles to grow its user base and improve advertising revenues as a result.
These problems, when contrasted against Facebook's huge success over the past few years, have forced Twitter's board to return to Dorsey in the hope that he can bring his success in creating and launching the company to its longer-term future.
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