Jack Dorsey gives staff 1pc of Twitter stock, worth $200m

23 Oct 2015

Jack Dorsey, Twitter CEO. Photo via Wikipedia

New Twitter CEO Jack Dorsey has started with quite the charm offensive by giving away one-third of his stock (1pc of Twitter’s shares) to a staff equity pool.

Dorsey’s donated stake is worth around $200m and comes on the back of unnerving times for Twitter employees.

His first move when he got in the door as CEO, having served as interim CEO in the lead-up, was to cancel office expansion in San Fransisco.

He then announced a raft of job cuts across the company, though Dublin offices are not thought to be affected.

So this move is clearly a step to try and improve morale across the workforce.

He announced the move, naturally, on Twitter.

Dorsey’s been a busy boy so far. Not only cutting staff numbers and giving away equity, he has also announced plans to rebuild bridges between the company and developers.

Dorsey told developers that the company wanted to “reset” relations with developers whom it had frozen out when it got protective of its brand and core products several years ago.

“Our relationship with developers got confusing, unpredictable,” Dorsey said. “We want to come to you today and apologise for the confusion.”

As a peace offering, Twitter revealed a number of kits and SDK alliances that should help developers who build apps around the Twitter platform to optimise those apps.

Gordon Hunt was a journalist with Silicon Republic