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Jack Dorsey just gave a third of his Twitter stock to employees

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Jack Dorsey just gave a third of his Twitter stock to employees

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Twitter co-Founder Jack Dorsey speaks at a campaign fundraiser for Democratic Candidate for Public Recommend Reshma Saujani, Wednesday, April 24, 2013 in big apple.

Image: Mary Altaffer/Associated Press

Barely per week after shedding more than 300 employees, Twitter CEO Jack Dorsey simply gave an incredible present to the company’s staff.

The Twitter founder plans to give one 1/3 of his stock —what amounts to 1% of the corporate — back to his workers, Dorsey announced Thursday.

Announcing he would “relatively have a smaller part of one thing large than a bigger part of something small,” Dorsey referred to the move is meant to assist Twitter continue to develop. The shares, which might be price roughly $200 million, will go into the corporate’s worker fairness pool, which means there might be extra Twitter inventory available to workers.

The move comes at a a very powerful time for the corporate because the now two-time Twitter CEO attempts to jumpstart user increase. Dorsey laid off 336 workers — Eight% of its group of workers — simply days after officially taking on as CEO of Twitter. The layoffs got here basically from the company’s engineering department, which Dorsey said would benefit from having a smaller crew.

Though Dorsey said he hopes reinventing in employees will lend a hand “make Twitter big,” the transfer will probably additionally increase morale amongst workers still reeling from the recent layoffs.

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Subject Matters:
Trade, jack dorsey, Social Media, Startups, Twitter

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