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Twitter to Slash 8% of Workforce

Social media giant Twitter said it will slash about 336 jobs, or about 8% of its total workforce, in a move to improve efficiencies.

The moves come shortly after Twitter co-founder Jack Dorsey was named permanent CEO of the social media giant on Oct. 5. Dorsey had hinted in earlier reports that he could pare down the workforce, particularly in its engineering unit.

In a memo to employees filed with the Securities and Exchange Commission Tuesday, Dorsey didn’t specify when the layoffs would take place, but added that its product and engineering units would “make the most significant structural changes to reflect our plan ahead.”

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