Jack Dorsey Gives A Third Of His Twitter Stock To Employees

Since he returned to Twitter as permanent CEO, Jack Dorsey has hardly put a foot wrong. He has said the right things, he has unveiled new features and promised to rebuild the relationship between Twitter and developers. 

It has been barely a week since Dorsey announced plans to lay off more than 300 employees from Twitter – that amounts to 8% of their workforce.

The Twitter founder has now revealed that he is giving one third of his stock – 1% of the company – back to the employees. Dorsey has noted that the move is meant to help Twitter continue to grow and that the shares which are worth around $200 million will go into the company equity pool which means there will be more Twitter stock available to employees.

The recent layoffs primarily affect the Twitter engineering department which Dorsey says will benefit from having a smaller team, however the announcement of returning a large number of his shares to employees comes at a crucial time.

Though Dorsey says that he hopes reinvesting in employees will help “make Twitter big,” there will no doubt be a big boost to employee morale following the recent layoff announcement.