Twitter announced a restructuring which includes laying off 336 employees, around 8 per cent of its global workforce, in hopes of putting the company “on a stronger path to grow”, according to its newly-appointed CEO, Jack Dorsey.

“The restructuring is part of an overall plan to organise around the company’s top product priorities and drive efficiencies,” Twitter said in a statement, adding that it intends to “reinvest savings in its most important priorities to drive growth.”

In an email to employees, Dorsey said the product and engineering departments would make the most “significant structural changes to reflect our plan ahead”.

“We feel strongly that engineering will move much faster with a smaller and nimbler team, while remaining the biggest percentage of our workforce. And the rest of the organisation will be streamlined in parallel,” he wrote.

He added that the team is working to produce a streamlined roadmap for Twitter, Vine and Periscope.

“The roadmap is focused on experiences which will have the greatest impact. We launched the first of these experiences last week with Moments, a great beginning, and a bold peek into the future of how people will see what’s going on in the world,” he wrote.

The company estimates it will incur $10 million to $20 million in severance costs, with restructuring expenses estimated at $5 million to $15 million.

“Twitter will go to great lengths to take care of each individual by providing generous exit packages and help finding a new job,” Dorsey’s email added.

The company said expected revenue for Q3 2015 will be at or above the “high end” of the previously forecasted ranges of $545 million to $560 million.

Last week, Dorsey was named as CEO, having served as interim CEO since July, when Dick Costolo stepped down after five years.

Dorsey had previously held the post of president and CEO from May 2007 until October 2008.

In Q2 2015, when Twitter’s revenue went up by 61 per cent year on year to $502.4 million, Dorsey said he was “not satisfied” with user growth, with core active users only growing by two million quarter-on-quarter, to reach 304 million, its slowest rate yet.

Twitter projected full-year 2015 revenue of between $2.17 billion and $2.27 billion, down from its earlier forecast of $2.3 billion to $2.35 billion.

Then CEO Costolo pinned some of the blame for the revenue shortfall on “lower-than-expected contribution from some of our newer direct response products”, which are advertisements that resemble tweets and enable users to click on them and take an action, such as downloading an app.

“It is still early days for these products, and we have a strong pipeline that we believe will drive increased value for direct response advertisers in the future,” he had said at the time.

Since taking over, Dorsey has rolled out not just Moments but also a buy button and an expanded video-advertising service.