Twitter To Lay Off 336 Employees

Twitter (NYSE:TWTR) is laying off 336 employees, or around 8 percent of its global workforce.
According to an article on Tech Crunch:

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 persons impacted with the layoffs. In particular, Dorsey wants a leaner company in order to iterate more quickly on the product.
The company also 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 the subject. 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.

Click here to read the full article on Tech Crunch.