Twitter to lay off 8 percent of its staff

From CNET: Twitter will let go of up to 336 employees, or about 8 percent of its workforce, in an attempt to streamline its operations.

It's the first major business move by the company since it appointed Jack Dorsey as its permanent CEO a week ago.

The social network, known for the brevity and speed of the posted by its users, has been wrestling with ways to grow the number of its users and to keep them engaged.

Twitter currently is home to 4,100 workers around the world, with half of those employed as engineers. The rest are spread among administration and marketing. The layoffs will be felt across the company, Dorsey indicated in a filing Tuesday with the Securities and Exchange Commission, affecting those in engineering but other areas as well.

"We feel strongly that Engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce," Dorsey said. "And the rest of the organization will be streamlined in parallel."

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