Twitter cuts 336 jobs amid restructuring

The job cuts will cost between $10m (£6.5m) and $20m in severance pay, while the restructuring will cost between $5m and $15m, the company said. Shares incheap twitter retweets in pre-market trading following the announcement. The move comes just days after co-founder Jack Dorsey was confirmed as Twitter's permanent chief executive. He had served as the interim boss of the company for three months after Dick Costolo stepped down on 1 July. Mr Costolo, who was chief executive from 2010 to this year, had been under pressure from investors unhappy with the firm's user growth.In a letter to Twitter employees, Mr Dorsey wrote: "We have made an extremely tough decision - we plan to part ways with up to 336 people from across the company. "We are doing this with the utmost respect for each and every person. "Twitter will go to great lengths to take care of each individual in providing generous exit packages and help finding a new job." Mr Dorsey told employees: "Emails like this are usually riddled with corporate speak so I'm going to give it to you straight." He went on to outline how the Twitter had been "working around the clock to produce streamlined roadmap for Twitter, Vine and Periscope" and described the company's latest innovation as "a bold peek into the future of how people will see what's going on in the world".

People who learned social media can get you fired

This post was created for your reading pleasure as a collaborative effort between the editorial staffs of Buzz Feed and CNN.How to get more twitter retweets this point in the digital age there's probably enough evidence to make people think twice about what they say or do online, lest it become social media fodder, right?An image that was shared on social media of a Taco Bell employee licking a stack of taco shells once again demonstrated the unintended -- but probably not unforeseeable -- side effects of social media.Taco Bell said the picture itself was acceptable as part of a contest. The fact that it was shared on someone's personal social media account violated the franchisee's policies. But each week seems to bring a new story of someone posting something they definitely shouldn't have.Here are 10 people who learned that posting controversial or just plain dumb stuff online can cost them their jobs.If you are reading this on mobile or some outdated browser, you won't be able to see this story in all its glory. Click here instead.Matt Watson’s infamous coffee blog chronicled all the annoying facets of being a barista. It was gaining a lot of popularity until Watson was outed by coffee gossip blog. Watson’s former boss told The Seattle Times that he was fired because he was writing about his place of employment during work hours. Watson is still at it, so a word to the wise: "If you remind me four times that you've ordered decaf guess what you won't be getting..."

Will axing employees make Twitter 'faster' and 'nimbler'? CEO Jack Dorsey thinks so

Twitter Chief Executive Jack Dorsey may have spoken too soon in June when he described the company's direction as “extremely strong and beautiful.” The San Francisco microblogging site who has the most twitter retweets a laggard in a world of fast-action social media companies such as Facebook and Snapchat — will slice 336 jobs, or 8% of its global workforce. Twitter began notifying affected employees Tuesday. Its shares nudged up 1.08% on Tuesday, to $29.06, on a down day for the market. The axing is Dorsey's first major move since being crowned Twitter's permanent chief executive Oct. 5 after three months as interim chief. “The restructuring is part of an overall plan to organize around the company's top product priorities and drive efficiencies throughout the company,” Twitter explained in a securities filing. “The company intends to reinvest savings in its most important priorities to drive growth.” Although Dorsey used plainer English in a letter to employees titled “A More Focused get more twitter retweets the wasn't any clearer on what the focus will be.“The engineers will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey wrote. “And the rest of the organization will be streamlined in parallel.”