Twitter co-founder Jack Dorsey sorry for mass layoffs, says grew company too quickly

Facing trolls on social media, former Twitter CEO Jack Dorsey on Saturday apologised to sacked Twitter employees, saying that he grew the micro-blogging platform too quickly.

Reports earlier said that several Twitter employees hate Dorsey for their current sad status after the hostile takeover by Elon Musk who has fired almost 50 per cent of the Twitter workforce.

"Folks at Twitter past and present are strong and resilient. They will always find a way no matter how difficult the moment. I realize many are angry with me. I own the responsibility for why everyone is in this situation: I grew the company size too quickly. I apologize for that," Dorsey posted.

"I am grateful for, and love, everyone who has ever worked on Twitter. I don`t expect that to be mutual in this moment...or ever and I understand", he added.

Dorsey quit Twitter in November last year, handing over the baton on Parag Agrawal, who is among those sacked.

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Following his departure from Twitter, Dorsey changed his financial services company Square to Block and introduced Bluesky, a decentralised social networking platform.

Dorsey posted on Twitter that Bluesky intends to be "a competitor to any company trying to own the underlying fundamentals for social media or the data of the people using it".

In 2019, Twitter founded Bluesky as a way to develop a similar decentralised concept for the company.

Dorsey owns 18 million shares of Twitter which are valued at over $1 billion.