$200 million morale booster: Twitter boss Dorsey hands third of his stock to staff

Twitter boss Jack Dorsey is giving a third of his stock in the company to boost staff bonuses. The move, worth $200 million USD, is to “reinvest directly in our people,” said company co-founder Mr Dorsey, who became permanent CEO earlier this month. His gesture comes as he works to rebuild employee morale and confidence at Twitter after a spate of high-level departures and redundancies over the past few months.

I’d rather have a smaller part of something big than a bigger part of something small.

Jack Dorsey

Twitter, which boasts hundreds of millions of users around the world, has been struggling to turn a profit as it struggles against social medial rivals such as Facebook. Last week, Mr Dorsey announced that the company would lay off 336 employees, about 8% of its workforce. However, his latest gesture raised concerns that he could manage both Twitter and and mobile payments company Square Inc, which is also about to go public. He already plans to donate 40 million shares, or 10 % of Square, to a charity foundation he started that invests in artists, musicians and local businesses.

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