Twitter has said it is cutting 336 jobs, roughly 8% of its global workforce, as part of a restructuring of the business.
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 returned as chief executive of the social media site.
“We have made an extremely tough decision – we plan to part ways with up to 336 people from across the company,” Mr Dorsey wrote in a letter to Twitter employees.
“We are doing this with the utmost respect for each and every person.
“Twitter will go to great lengths to take care of each individual in providing generous exit packages and help finding a new job.”
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Source: BBC