Shulou(Shulou.com)11/24 Report--

Jack Dorsey, co-founder of Twitter, apologized for the company's "expansion too fast" on Saturday, local time. The move comes a day after Twitter's new boss, Elon Musk, announced massive layoffs across the company, and nearly 1,000 employees were laid off on the same day.

"Twitter employees were and are strong. No matter how difficult the situation is, they will always find a solution," Dorsey wrote in his tweet. I know that many people are dissatisfied with me, and I am responsible for their current situation. After all, I made the company expand too fast. I apologize for that. "

As of June 30, 2013, shortly before Twitter went public, the company had about 2000 employees, according to filings with the Securities and Exchange Commission (SEC). By the end of last year, the company had more than 7500 full-time employees.

After Musk completed the acquisition and took over Twitter on October 28, there were rumors that the company would make large-scale layoffs. On Thursday night, Twitter informed employees that layoffs would begin. In a notification letter submitted to the authorities, Twitter confirmed that a total of 983 employees had been laid off in California.

"Unfortunately, when the company loses more than $4 million a day, we have no choice about Twitter layoffs," Musk wrote in a tweet on Friday afternoon. Everyone who leaves gets three months' severance pay, which is 50 per cent higher than required by law. "

Dorsey's apology comes at a critical time for Twitter's transformation, and Musk's takeover sparked a lot of turmoil, such as the dismissal of senior leadership, including the chief executive. Advertisers and users wary of Mr Musk's plan are fleeing the platform, prompting the latter to face new pressure to increase revenue.

In response, Mr Musk has taken a number of measures, including making users pay to verify their accounts. Musk also expressed his vision of supporting "freedom of expression" on the platform, which worries civil rights groups and information experts that there will be more hate speech, misinformation and conspiracy theories spread on the platform.

Dorsey co-founded Twitter in 2006 with Noah Glass, Biz Stone and Evan Williams. Mr Dorsey served as chief executive twice throughout the leadership transition and left last year. Palag Agrawal, then chief technology officer, took over from Mr Dorsey, but he himself has been fired by Mr Musk.

Since leaving Twitter, Jack Dorsey, co-founder of ▲ Twitter, has turned most of his energies to the payment company he founded, Block (formerly Square). He has always been a supporter of Musk's takeover of Twitter and has publicly posted: "this is the right path, and I firmly believe that."

Although Dorsey no longer holds any position at Twitter, he has not completely severed his relationship with Twitter. He retained about 2.4 per cent of Twitter and recently transferred it to a new company controlled by Mr Musk, becoming one of the largest individual shareholders, according to regulatory filings.

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