{"id":43349,"date":"2023-10-20T15:27:54","date_gmt":"2023-10-20T15:27:54","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/last-post-twitter-to-cut-more-than-300-jobs-startupsmart\/"},"modified":"2023-10-20T15:27:54","modified_gmt":"2023-10-20T15:27:54","slug":"last-post-twitter-to-cut-more-than-300-jobs-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/last-post-twitter-to-cut-more-than-300-jobs-startupsmart\/","title":{"rendered":"Last post: Twitter to cut more than 300 jobs – StartupSmart"},"content":{"rendered":"
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More than 300 Twitter employees will lose their jobs as part of new CEO Jack Dorsey\u2019s first big move, in an effort to \u201crestructure\u201d the company and create a \u201cmore focused Twitter\u201d.<\/p>\n

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It was originally reported last week that Dorsey would be moving to streamline the social network\u2019s large workforce, and a filing with the US Securities and Exchange Commission overnight confirms the plans.<\/p>\n

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The \u201crestructuring and reduction in force\u201d will see layoffs of up to 336 Twitter employees, an equivalent of 8% of the company\u2019s overall global workforce, as Re\/Code<\/i> reports.<\/p>\n

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\u201cThe restructuring is part of an overall plan to organise around the company\u2019s top product priorities and drive efficiencies through the company,\u201d Dorsey says in the filing.<\/p>\n

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\u201cThe company intends to reinvest savings in its most important priories to drive growth.\u201d<\/p>\n

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The layoffs will cost up to $US20 million mostly in severance packages, will the restructuring will set Twitter back up to $US15 million.<\/p>\n

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The cuts will hit the product and engineering departments the hardest, and in an email to employees Dorsey says those losing their jobs will be treated with the \u201cupmost of respect\u201d.<\/p>\n

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\u201cWe feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,\u201d Dorsey says in the email.<\/p>\n

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\u201cThe rest of the organisation will be streamlined in parallel.<\/p>\n

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\u201cTwitter will go to great lengths to take care of each individual by providing generous exit packages and help finding a new job.\u201d<\/p>\n

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