Twitter CEO Jack Dorsey gives a third of stock to employees

The announcement comes a week after Twitter cut over 336 jobs. 

Carl Anka
Friday 23 October 2015 17:28 BST
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Twitter's share price dipped by 11 per cent in July
Twitter's share price dipped by 11 per cent in July

Giving out staff rewards as a means to placate an annoyed workforce can be a pretty standard management tool, but Twitter CEO Jack Dorsey's latest move probably beats your typical casual Friday.

Last night the Twitter boss declared he was to give away a third of his stock of the company and channel it back into the employee compensation pool. The news (announced via his Twitter account, naturally) comes just days after Mr Dorsey announced Twitter was to cut up to 336 jobs - or 8 per cent of the entire workforce - in an effort to 'better streamline' the companies service. Those staff who were made redundant took to Twitter days afterwards to report the news was broken to them by simply having their emails accounts frozen.

Mr. Dorsey says that by channelling his third of stock into the company’s employee equity pool, he has handed 1% of the company into the hands of the social media website’s staff, which they will be able to use to in the form of employee grants.

It has been an interesting fortnight for the Twitter following the annoucement of job cuts. The company will also announce of its most recent quarterly figures sometime next week.

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