Twitter's chief executive to give out company shares to staff

Twitter's new chief executive Jack Dorsey has said he is going to give a third of his shares in the firm to staff - based on their performance.

They are worth almost $200m.

Jack Dorsey announced earlier this month that 8% of staff would be laid off as part of a reorganisation plan.

This is Mr Dorsey’s second stint as chief executive as he helped start the company almost nine years ago.

Twitter dumped Mr Dorsey last time but feel he has the maturity to fix the problems the company is having including almost a decade of financial losses.