Twitter said Dorsey’s shares will be earmarked for stock issued to employees next year under the company’s incentive plan.
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Since Dorsey took over the reins, Twitter announced that it would slash 8% of its global workforce.
Twitter recently named Jack Dorsey as its CEO and Adam Bain as COO.
Twitter is expected to report its third-quarter 2015 earnings on October 27.
Dorsey is also the CEO of Square, a mobile payment company based in San Francisco.
One reason why Twitter is struggling with this is because Twitter is not doing enough to attract young users, rather, it’s aiming more at businesses and an older audience, Panmure Gordon’s Technology Analyst George O’Conner said, according to CNBC.com. The launch of the news curation feature, Moments, is not only an attempt to make the Twitter experience better for current users but also an effort to rope in new users who find the site too confusing or unnecessary. And a move like this is likely to help fire up the company’s employees further.Twitter CEO Jack Dorsey isn’t wasting any time making friends among his company’s workforce. Last quarter Twitter showed almost no growth among its core users, who sign into the service at least once a month.
ADVERTISING REVENUE: Twitter stunned investors in the first quarter when revenue came up short.
Advertising accounts for about 90% of revenue. “However, this does remain a very sizable platform with a unique value proposition, strategic significance, and good monetization potential”. A Twitter spokeswoman told CNN Money in an email that this giveback by Dorsey means there will now be more shares in the employee equity pool which will get distributed at times for events such as promotions and newly hired employees.
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Twitter ran its first promoted (as in paid) “moment” over the weekend for the film Creed set to be released November. 25.
