Jobs go at Twitter

TwitterTroubled social media outfit Twitter said 336 people would lose their jobs as part of a restructuring attempt.

The move comes after Jack Dorsey – a co-founder of Twitter – returned in the position of CEO.

The layoffs represent about eight percent of Twitter’s worldwide roster and the news sent its share price up by six percent.

Dorsey may not be finished with his restructuring however. In a note to Twitter employees he said the rest of the company will also be “streamlined”.

Most of the layoffs are in the software development side of the business because Dorsey thinks a smaller work force is a nimbler work force.

Twitter’s real problem isn’t software engineering however. The problem is it hasn’t really mastered the craft of sales, unlike its sort of competitors Facebook.

The company will take a charge amounting to as much as $20 million in redundancy costs up to $15 million restructuring costs.