Newly minted Twitter CEO Jack Dorsey promised and delivered on straight talk on Tuesday morning in a memo to staffers describing why the company will lay off more than 300 employees.
"Emails like this are usually riddled with corporate speak so I’m going to give it to you straight," he said in the memo, as reported by numerous media outlets.
Dorsey explained that he is trying to build a "more purpose-built team" as he restructures, with the biggest changes taking place in product and engineering.
"This isn’t easy. But it is right," he concluded. "The world needs a strong Twitter, and this is another step to get there."
jack dorsey’s letter to employees. pic.twitter.com/ZUHUtZsdek— ?_? (@MikeIsaac) October 13, 2015
Dorsey has his work cut out for him. While Twitter achieved a 61% boost in revenue in the second quarter, easily beating expectations, it is still unprofitable and struggling to attract new users.
"This is unacceptable, and we’re not happy about it," Dorsey said in late July.