Just a week after laying off over 300 employees, TwitterJack Dorsey gave a big gift to the company's workforce.
The Twitter founder plans to give a third of his shares - that's 1% of the company - back to his employees, he recently announced.
Saying that "I would rather have a smaller part of something big than a bigger part of something small," Dorsey noted that the move is intended to help Twitter grow. The shares, worth about $200 million, will go to the company's employee stock, meaning there will be more Twitter shares available to employees.
The move comes at a critical time for the company as the two-time Twitter CEO looks to boost user growth. Dorsey laid off 336 employees — 8% of his staff — just days after officially taking over as Twitter CEO. The layoffs came mostly from the company’s engineering department.
Still, Dorsey said he hopes that investing in employees will help “make Twitter great.” The move will likely also boost morale among employees, who are still trying to recover from recent layoffs.
