Twitter CEO Jack Dorsey hands out shares to remaining staffers
After letting go 336 staff earlier this month, Twitter CEO, Jack Dorsey, has now given out $200m (£130m) worth of stock (1% of the company) to the remaining 3,700 employees. In a tweet Dorsey said, "as for me: I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big." The company will release their Q3 report next week, last quarter the company reported revenue of $502m. 

Having recently put down his axe after hacking away 336 staff earlier this month, chief executive Jack Dorsey has now donned his Santa suit to hand out $200m (£130m) worth of stock to remaining employees.

Dorsey said he was giving away about 1 per cent of the company to the company’s 3,700 employees, in Twitter's Teatime town hall event, reported the FT.

In a tweet Dorsey said: "As for me: I'd rather have a smaller part of something big than a bigger part of something small. I'm confident we can make Twitter big."

Dorsey was installed as chief executive of the company earlier this month, following a stint as interim chief exec for four months.

But he wasted no time in planning the hefty job 8 per cent job cuts to the moaning platform's global workforce.

Twitter has flagged behind its other "social media" competitors in attracting enough advertising revenue and increasing its user base.

In its last quarter, the company reported revenue of $502m and a net loss for Q2 of $136.66m. ®