Jack Dorsey plans to lay off 8% of Twitter’s workforce, or more than 300 people.
It’s his first major decision since returning to Twitter, the company he cofounded, as CEO. Dorsey left Twitter to cofound Square, where he also remains CEO.
The layoffs will centre around the company’s engineering department, according to a memo, which adds that severance packages will be “generous.”
“We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey wrote in a memo. “And the rest of the organization will be streamlined in parallel.”
Dorsey’s goal is for a “purpose-built” team to create a “strong Twitter.”