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| Jack Dorsey: Twitter co-founder breaks silence on Elon Musk takeover | Jack Dorsey: Twitter co-founder breaks silence on Elon Musk takeover |
| (about 3 hours later) | |
| Jack Dorsey quit as Twitter CEO in November | Jack Dorsey quit as Twitter CEO in November |
| Twitter co-founder and ex-CEO Jack Dorsey has addressed the mass sackings at his former firm, apologising for growing Twitter "too quickly". | Twitter co-founder and ex-CEO Jack Dorsey has addressed the mass sackings at his former firm, apologising for growing Twitter "too quickly". |
| Half of the social media giant's staff are being fired, a week after Elon Musk bought it in a $44bn deal. | Half of the social media giant's staff are being fired, a week after Elon Musk bought it in a $44bn deal. |
| Billionaire Mr Musk has said he had "no choice" but to slash the company's workforce as the firm is losing more than $4m (£3.5m) a day. | Billionaire Mr Musk has said he had "no choice" but to slash the company's workforce as the firm is losing more than $4m (£3.5m) a day. |
| Twitter staff took to the platform to express their anger at the firings. | Twitter staff took to the platform to express their anger at the firings. |
| In a statement posted on the microblogging site, Mr Dorsey - who quit as CEO in November and left the board of directors in May - said Twitter staff "are strong and resilient. They will always find a way no matter how difficult the moment. I realize [sic] many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize [sic] for that." | In a statement posted on the microblogging site, Mr Dorsey - who quit as CEO in November and left the board of directors in May - said Twitter staff "are strong and resilient. They will always find a way no matter how difficult the moment. I realize [sic] many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize [sic] for that." |
| "I am grateful for, and love, everyone who has ever worked on Twitter. I don't expect that to be mutual in this moment...or ever…and I understand," he added. | "I am grateful for, and love, everyone who has ever worked on Twitter. I don't expect that to be mutual in this moment...or ever…and I understand," he added. |
| His statement appeared to endorse the need for dismissals at the firm. The 45-year-old Mr Dorsey has been supportive of Mr Musk's takeover. | His statement appeared to endorse the need for dismissals at the firm. The 45-year-old Mr Dorsey has been supportive of Mr Musk's takeover. |
| Back in April when Mr Musk first began his purchase of Twitter, Mr Dorsey said the 51-year-old was the "singular solution I trust" and that the South African's takeover was "the right path...I believe it with all my heart". | Back in April when Mr Musk first began his purchase of Twitter, Mr Dorsey said the 51-year-old was the "singular solution I trust" and that the South African's takeover was "the right path...I believe it with all my heart". |
| Mr Dorsey created Twitter in 2006 along with Evan Williams, Biz Stone, and Noah Glass. He sent the company's first Tweet, writing "just setting up my twttr". | Mr Dorsey created Twitter in 2006 along with Evan Williams, Biz Stone, and Noah Glass. He sent the company's first Tweet, writing "just setting up my twttr". |
| The cuts have come across Twitter's 7,500-strong work force, and there are fears it could damage the firm's content moderation efforts. | The cuts have come across Twitter's 7,500-strong work force, and there are fears it could damage the firm's content moderation efforts. |
| Despite the dismissals Mr Musk has said the firm's policies remain "absolutely unchanged". | Despite the dismissals Mr Musk has said the firm's policies remain "absolutely unchanged". |
| A host of major brands have halted advertising spending with Twitter in recent days, including Volkswagen, General Motors and Pfizer. | A host of major brands have halted advertising spending with Twitter in recent days, including Volkswagen, General Motors and Pfizer. |
| Almost all of Twitter's revenue currently comes from advertising, and Mr Musk has been looking for ways to cut costs and make money in different ways from the platform. | |
| In a move much publicised in advance, Twitter launched a subscription service on Saturday allowing users to buy blue-tick verification on the platform for a monthly fee of $8 (£7). |