Twitter is about to cut up to 336 jobs out of its 4,100 employees working for the company around the world. It represents around 8.2 percent of the company’s global workforce. Jack Dorsey, who just became full-time CEO again, shared the news in an email sent to the Twitter team. He also shared this email with the SEC.
Re/code reported today’s layoffs last week, saying that engineers would be the first people impacted by the layoffs. In particular, Dorsey wants a leaner company in order to iterate more quickly on the product.
The company launched Moments last week, a new tab in the mobile app for casual users. It lets you scan through stories. Each story is a compilation of the most important tweets, pictures and videos on a particular topic. This lean-back experience is apparently only the first one. “We launched the first of these experiences last week with Moments,” Dorsey wrote in his email.
The structure of the company is going to change a bit after the layoffs. While the engineering team will be smaller, it will still represent the biggest team of the company.
Twitter has a growth problem. It seems like the company is stuck when it comes to monthly active users. While 316 million active users is a huge number, the stock market is looking for growing companies. And this is probably one of the main concerns for the board, as well.
Twitter shares (NYSE:TWTR) are now up 1.74 percent in the premarket compared to yesterday’s closing price of $28.74.

Here’s Jack Dorsey’s email:
