Jack Dorsey | X
[T]oday we’re making one of the hardest decisions in the history of our company: we’re reducing our organization by nearly half, from over 10,000 people to just under 6,000. [T]hat means over 4,000 of you are being asked to leave or entering into consultation. [I]’ll be straight about what’s happening, why, and what it means for everyone.
[F]irst off, if you’re one of the people affected, you’ll receive your salary for 20 weeks + 1 week per year of tenure, equity vested through the end of may, 6 months of health care, your corporate devices, and $5,000 to put toward whatever you need to help you in this transition (if you’re outside the U.S. you’ll receive similar support but exact details are going to vary based on local requirements). [I] want you to know that before anything else. everyone will be notified today, whether you’re being asked to leave, entering consultation, or asked to stay.
[W]e’re not making this decision because we’re in trouble. [O]ur business is strong. [G]ross profit continues to grow, we continue to serve more and more customers, and profitability is improving. [B]ut something has changed. [W]e’re already seeing that the intelligence tools we’re creating and using, paired with smaller and flatter teams, are enabling a new way of working which fundamentally changes what it means to build and run a company.[A]and that’s accelerating rapidly.
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