Twitter announces layoffs as CEO Dorsey looks to revive growth

The layoffs, primarily in the company's engineering and product functions, come a week after Dorsey took over as permanent CEO. Shares of Twitter, which had about 4,100 employees globally as of June 30, rose as much as 6.7 percent to $30.68 on Tuesday. “We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce,” Dorsey said in a letter to employees

Read more