Twitter's chief executive says he's going to give a third of his shares in the firm to staff - based on their performance. The total value of these shares is close to $200m dollars.
ðŸ¥âš¡ï¸ I'm giving ~1/3rd of my Twitter stock (exactly 1% of the company) to our employee equity pool to reinvest directly in our people.
— Jack (@jack) October 23, 2015
Jack Dorsey, the co-founder of the company who became Twitter's permanent CEO earlier in this month, announced the giveaway (predictably) in a tweet.
The company has not offered any other comment apart from his series of tweets - he says that the wants to "reinvest directly in our people."
The CEO added, "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!"
The company has struggled as a new breed of mobile-first social media apps like Snapchat and Instagram who have been eating into its screen-time.
Jack Dorsey announced earlier this month that 8% of the company's staff would be laid off as part of a reorganisation plan to cut costs.
