Jack Dorsey apologizes for growing Twitter too fast

Twitter co-founder Jack Dorsey apologized to employees in a tweet for growing the company “too fast,” a day after billionaire Elon Musk cut the social media platform’s staff in half.

Immediately after successfully taking over Twitter , Elon Musk laid off about 3,700 employees out of 7500 people working at Twitter. Mr. Musk said staffing adjustments were inevitable when the company was losing more than $ 4 million a day. Those who are laid off will be compensated three months’ salary, 50% more than the law. According to CNBC, the number given by Musk cannot be verified because the loss is more than $ 4 million a day, equivalent to $ 1.5 billion per year.

“The people at Twitter past and present are both strong and resilient,” co-founder Jack Dorsey tweeted on Saturday. “They will always find a way out, no matter how difficult the times are.”

The former CEO and President of Twitter admitted: “I realize that a lot of people are angry with me. I hold myself accountable for why people get into this situation: I have grown the size of the company too much. quick, I’m sorry about that.”

In a follow-up tweet, Mr. Dorsey said: “I am grateful and love everyone who has worked at Twitter.”

Jack Dorsey co-founded Twitter in 2006 with Evan Williams and Biz Stone. Twitter started its IPO seven years later, making him a billionaire. He left the CEO position in 2007 and returned to this position in 2015 but only received a salary of 1.4 USD in 2018. He continued to step down as CEO and Chairman of the company last year, making way for Parag Agrawal. Then, Agrawal was quickly fired after Musk took ownership of the company.

According to Apple Insider