Popular social media website Twitter announced Tuesday that it would be laying off 336 people, nearly 8 percent of its total workforce.
The move comes as the first instance of mass layoffs in Twitter’s nine-year history, and will reported cost the company between “$10 million to $20 million” in severance packages, according to Business Insider.
Writing via email to his staff, Jack Dorsey, Twitter's cofounder and new permanent CEO, said that specifically, the engineering team would be downsized, in an attempt to “move much faster with a smaller and nimbler team.”
Dorsey had been brought back as permanent CEO in hopes that he could reverse the trend of slowed overall growth that has led to continuous losses posted by the company in recent months.
Per the NY Post, while earnings over the same period were documented as $938 million, the company's expenses increased by 44 percent, up to $1.2 billion.
Speaking via Twitter, Dorsey admitted that the messaging service was proving too difficult for many people and turning off new users who have flocked to other social media sites such as SnapChat and Facebook’s WhatApp.
Returning as CEO, Dorsey has promised plans to restructure Twitter so that it is more accessible, and writing to the employees via email, he said the following about the layoffs.
“This isn't easy. But it is right. The world needs a strong Twitter, and this is another step to get there.”