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Twitter to Cut 336 Jobs in Cost-Cutting Effort

FILE - A portrait of the Twitter logo in Ventura, California.

The social messaging platform Twitter said Tuesday it was cutting eight percent of its workforce, or 336 jobs, in a restructuring of the troubled company under newly returned chief executive Jack Dorsey.

The layoffs come just two weeks after Twitter brought back Dorsey - one of its co-founders - as permanent CEO in an effort to tackle problems that have slowed user growth at the messaging service and compounded steady financial losses.

The San Francisco-based one-to-many messaging platform, which has not yet turned a profit, has struggled to expand its user base above 300 million.

"We are moving forward with a restructuring of our workforce so we can put our company on a stronger path to grow," Dorsey wrote in an email explaining the layoffs to Twitter employees.

Dorsey ran Twitter in 2007-2008 and served as interim chief executive for the third quarter after Dick Costolo resigned in June.

Also last week, Twitter introduced a new "Moments" feature that promised to let people quickly tune in to "the best of Twitter" in an effort to leverage its connections in real-time news.