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10/14/2015 01:43 PM ID: 101130 Permalink   

Twitter to Cut up to Eight Percent of Workforce, CEO Says Layoffs Are "Right"


Twitter on Tuesday announced that it will cut eight percent of its global workforce.

CEO Jack Dorsey calls the step "difficult" but also "right". "We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce," he explained in a company-wide email.

In their regulatory filing Twitter says that they expect the layoffs to cost them between $10 million and $20 million.

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