Twitter CEO gives away shares to boost staff morale

Twitter co-founder and Chief Executive Jack Dorsey wants to devote a third of his personally-held shares to the firm’s employee equity pool, in an apparent bid to enhance corporate identity amid difficult times.

Amid a major downsizing drive announced by Twitter earlier this month, Jack Dorsey announced Thursday he would devote the shares to the staff equity pool because he wanted to “directly invest in our people.”

A third of Dorsey’s personally-held stock amounts to “exactly one percent” in the micro-blogging website, and was worth $197 million (177 million euros) at the end of July.

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Source News: DW