Twitter Boss Gives Out His Earnings To Employees
Talking about awesome, Jack Dorsey, co-founder of Micro-blogging site, Twitter, recently made a decision to give away a third of his shares in the messaging platform to employees as part of his plan to boost morale and transform the company.. He was recently reinstalled as chief executive and said this while addressing a Twitter Teatime Town Hall Meeting.
About $200m worth of stock will be given out which is about 1 per cent of the company, to the company’s 3700 employees.
If the shares are distributed evenly, it would work out at about $55,000 worth of stock for each staff member and they will be rewarded with stock depending on performance and promotions.
“As for me: I’d rather have a smaller part of something big than a bigger part of something small. I’m confident we can make Twitter big!” he tweeted.
Twitter appointed Mr Dorsey as permanent chief executive two weeks ago, after four months under his interim leadership. The previous chief executive, Dick Costolo, stepped down after user growth slowed significantly, worrying Wall Street.
Employees of the company have praised Mr Dorsey’s move and Kevin Weil, senior vice-president of product, tweeted that he was “proud to work with a leader like @jack”, while Katie Jacobs Stanton, who leads global media partnerships at Twitter, said he was “making history”.
Source: Financial Times