Twitter co-founder apologizes for company's 'growth too fast'

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 Twitter co-founder apologizes for company's 'growth too fast' />< /p> </p>
<p>Twitter co-founder and former CEO Jack Dorsey responded to mass layoffs at his former firm by apologizing for being “too fast” growth of Twitter.</p>
<p> Half of the social media giant's employees were laid off a week after Elon Musk bought it for $44 billion.</p>
<p> Musk said he “didn't have other choice” than to cut the company's staff as the firm loses more than $4 million a day.</p>
<p>In a statement released to the platform, Dorsey, who stepped down as CEO in November, said Twitter staff are “strong and resilient and will always find a way, no matter how difficult the moment.”</p>
<p>"I understand that a lot of people are angry with me. I am responsible for why everyone is in this situation: I grew the size of the company too fast. I apologize for that. I am grateful and love everyone who has ever worked on Twitter. I don't expect it to be mutual at this point… or ever… and I understand, — he added.</p>
<p> His statement seemed to confirm the need for layoffs at the firm.</p>
<p> The cuts have affected 7,500 Twitter employees, and there are concerns that this could hurt the firm's moderation efforts content.</p>
<p> Despite the layoffs, Musk said the firm's policy remains “absolutely unchanged.”</p>
<p> In recent days, a number of major brands, including Volkswagen, General Motors and Pfizer has stopped spending on ads on Twitter.</p>
<p> Nearly all of Twitter's revenue now comes from ads, and Musk has been looking for ways to cut costs and make money in various ways with the platform.</p>
<p> Ahead of the much publicized move, Twitter on Saturday launched a subscription service allowing users to purchase account verification on the platform for a monthly fee of $7.99.</p>
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