Twitter co-founder Jack Dorsey speaks out after mass layoffs

Twitter co-founder Jack Dorsey apologized Saturday for rising the corporate “too shortly,” a day after the corporate laid off roughly half of its staff underneath new proprietor Elon Musk.

“Of us at Twitter previous and current are sturdy and resilient. They’ll at all times discover a means regardless of how tough the second,” Dorsey wrote in a tweet. “I notice many are offended with me. I personal the accountability for why everyone seems to be on this scenario: I grew the corporate dimension too shortly. I apologize for that.”

After Tesla and SpaceX CEO Musk took possession of Twitter on Oct. 28, the social networking big launched into a steep discount in its workforce. Twitter knowledgeable staff Thursday night that it might start shedding workers members, in accordance with communications obtained by CNBC. 

The cuts affected a complete of 983 staff in California, its residence state, in accordance with three letters of discover that the corporate despatched to regional authorities, which had been obtained by CNBC.

Musk wrote in a tweet on Friday afternoon, “Concerning Twitter’s discount in drive, sadly there is no such thing as a selection when the corporate is dropping over $4M/day. Everybody exited was supplied 3 months of severance, which is 50% greater than legally required.”

Twitter’s discount in drive prolonged past California, and CNBC couldn’t instantly affirm whether or not Musk’s description is correct. A lack of $4 million per day on the firm would characterize an annual loss round $1.5 billion.

—CNBC’s Lora Kolodny contributed to this report.