Jack Dorsey who is the CEO of twitter, after employing 300 workers is lifting the enthusiasms among employees by allotting them 6.8 million shares of the stock he has in the services that are given online through messages.
The stock is given by Dorsey that is of worth more than 200 million dollars so that is why it is easy for twitter to give it the employees that is related to the filed on Friday with the commission of exchange and also with the securities.
The main gesture was seen just when Dorsey laid off 8% of the workforce in twitter with the effort to make the company gets the right benefits and this was the first time in the history of nine years. There is 1/3rd of stock given that is owned by Dorsey in the company of San Francisco.
Dorsey twitter as well for the stock he mentioned, “I’d rather have a smaller part of something big than a bigger part of something small, “he further added, “I’m confident we can make Twitter big!”
For the stock issue, this tweet will be shared within the employees next year under the plan that company has made and declared. There is still worth of 15 million shares on twitter that is owned by Dorsey that is worth that of $460 million that is on the price value.
The gain in the stock for twitter is $1.13 that is around 4% and to get it done at $30.28 on Friday. For the past 6 months, the share is declining by 40% and is for the growth of users and inability to generate money for it.
At that time, the company and its board were thinking that Dorsey was not the right choice for this position although he was original CEO of twitter.
He also managed to re-tool twitter and he is also known to be the CEO of square who is planning to pay an initial public offer for the stocks made.
For the square stock, Dorsey contributed around 15.1 million shares for the last two years that is reported by the Square’s IPO documents. He was till then the great and the largest shareholder with the stake of 24% in the company of San Francisco that is near the headquarters of twitter.