Twitter cuts 336 jobs amid restructuring

Baku, October 14, AZERTAC

Twitter has said it is cutting 336 jobs, roughly 8% of its global workforce, as part of a restructuring of the business, according to the BBC.

The job cuts will cost between $10m (£6.5m) and $20m in severance pay, while the restructuring will cost between $5m and $15m, the company said.

Shares in Twitter rose 2% in pre-market trading following the announcement.

The move comes just days after co-founder Jack Dorsey was confirmed as Twitter's permanent chief executive.

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