Twitter to lay off up to 8% of its workforce

Twitter is laying off 336 employees, or about eight per cent of its global workforce of 4,100 people, days after the microblogging firm brought back its co-founder Jack Dorsey as permanent CEO.

"We have made an extremely tough decision: we plan to part ways with up to 336 people from across the company," Dorsey in a letter to employees.

"We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce," he said, adding that the rest of the organisation will be streamlined in parallel.

He said the team has been working around-the-clock to produce streamlined roadmap for Twitter, Vine, and Periscope and they are shaping up to be strong.

The roadmap is focused on the experiences which will have the greatest impact.

"We launched the first of these experiences last week with Moments, a great beginning, and a bold peek into the future of how people will see what's going on in the world," he said.

Dorsey said the roadmap is also a plan to change how we work, and what we need to do that work. He added that product and engineering are going to make the most significant structural changes to reflect the microblogging company's plan ahead. Twitter brought back Dorsey two weeks back with a hope that he would be able to resolve financial problems and boost profits.

(PTI)