“I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that,” Dorsey tweeted Saturday.
Dorsey co-founded Twitter in 2006 alongside Noah Glass, Biz Stone and Evan Williams. Dorsey held the top job twice throughout leadership changes and stepped down as CEO last year. The company’s then-chief technology officer Parag Agrawal succeeded Dorsey as CEO before leaving as part of Musk’s takeover. Dorsey has since shifted his focus to solely managing his payments company Block, formerly known as Square. He has been an outspoken advocate of Musk’s takeover, writing in a tweet that “This is the right path… I believe it with all my heart.”
CNBC reported that as of June 30, 2013, the social media platform had about 2,000 employees. That number climbed to more than 7,500 full-time workers by the end of last year.
Jack Dorsey Twitter’s co-founder apologized on Saturday for growing the company “too quickly” after Elon Musk’s team laid off approximately half of the workforce. The cuts affected a total of 983 employees in California, its home state, according to three letters of notice that the company sent to regional authorities, which were obtained by CNBC. Twitter’s reduction in force extended beyond California, and CNBC could not immediately confirm whether Musk’s description is accurate. A loss of $4 million per day at the company would represent an annual loss of around $1.5 billion.
“Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment. I realize 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 for that,” Dorsey tweeted. “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 continued.
