Dorsey apologizes for growing Twitter ‘too quickly’

Former Twitter Inc. Chief Executive Officer Jack Dorsey (picture) said he regrets growing the company too quickly as the social media platform downsizes following its recent sale to Elon Musk. 

Musk on Thursday and Friday slashed over half the staff, affecting almost every team at the company. The cuts, expected to involve about 3,700 jobs, have fueled questions about whether Twitter will have the resources to keep crucial systems running effectively, including during the US midterm elections on Tuesday.

Dorsey remains an indirect shareholder in the site, after rolling over roughly 18 million Twitter shares into Elon Musk’s X Holdings I. He has endorsed Musk’s purchase, saying in April when the deal was first announced that the company was “owned” by Wall Street and said that taking it private was the “correct” first step. – BLOOMBERG