AFP, San Francisco :
Twitter co-founder and chief Jack Dorsey on Thursday said that he is giving a third of his shares to company employees.
The move to pump up the supply of shares available to reward workers could be intended to boost moral in the aftermath of job cuts at the San Francisco-based Internet firm.
“I’m giving approximately one-third of my Twitter stock (exactly one percent of the company) to our employee pool to reinvest directly in our people,” Dorsey said in a tweet.
“I’d rather have a smaller part of something big than a bigger part of something small,” Dorsey added in a follow-up tweet.
Twitter shares closed in New York trading at $29.16, giving the one-to-many messaging service a market value of $19.82 billion, according to Google Finance.
Twitter earlier this month said it was slashing eight percent of its workforce as newly returned chief executive Dorsey outlined his “roadmap” to boost users and revenues at the money-losing messaging platform.
Twitter co-founder and chief Jack Dorsey on Thursday said that he is giving a third of his shares to company employees.
The move to pump up the supply of shares available to reward workers could be intended to boost moral in the aftermath of job cuts at the San Francisco-based Internet firm.
“I’m giving approximately one-third of my Twitter stock (exactly one percent of the company) to our employee pool to reinvest directly in our people,” Dorsey said in a tweet.
“I’d rather have a smaller part of something big than a bigger part of something small,” Dorsey added in a follow-up tweet.
Twitter shares closed in New York trading at $29.16, giving the one-to-many messaging service a market value of $19.82 billion, according to Google Finance.
Twitter earlier this month said it was slashing eight percent of its workforce as newly returned chief executive Dorsey outlined his “roadmap” to boost users and revenues at the money-losing messaging platform.
