Co-founder of Twitter will provide one third of its shares to employees

              
                Jack Dorsey, co-founder of Twitter


The chief executive and co-founder of Twitter, Jack Dorsey, said it would deliver one third of its shares in the company, about 1%, to a background of microblogging network officials.
The shares to be donated by the executive were worth $ 197 million by the end of July. The purpose cited by Dorsey is "reinvest in our people." He was appointed chief executive of Twitter earlier this month. Twitter declined to comment.

The unusual decision came as Dorsey works to regain morale and confidence of Twitter employees after a series of key employees leaving the plant in recent months.
Dorsey said last week that Twitter will lay off 336 employees, about 8% of the company's workforce. He took over as interim chief executive of Twitter in July after Dick Costolo resigned.


"I'd rather have a smaller part of something bigger than having a big part of something small," Dorsey said in a tweet.