Twitter Inc said it would lay off up to 336 employees, or cut about 8 percent of its global workforce, as part of an overall plan to streamline operations.
The layoffs come about a week after the microblogging service provider appointed its co-founder Jack Dorsey its permanent CEO.
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Jack Dorsey, Twitter CEO
Twitter to cut up to 8 percent of global workforce
Jack Dorsey, interim chief executive officer and co-founder of Twitter Inc., left, talks with Venture capitalist Aviv 'Vivi' Nevo while arriving for a morning session during the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Thursday, July 9, 2015. Billionaires, chief executive officers, and leaders from the technology, media, and finance industries gather this week at the Idaho mountain resort conference hosted by investment banking firm Allen & Co. Photographer: David Paul Morris/Bloomberg via Getty Images
SQUAWK ON THE STREET -- Pictured: Dick Costolo and Jack Dorsey in an interview at CNBC's San Francicso bureau, on June 12, 2015 -- (Photo by: John Chiala/CNBC/NBCU Photo Bank via Getty Images)
Jack Dorsey, CEO of Square, Chairman of Twitter and a founder of both ,holds an event in London on November 20, 2014, where he announced the launch of Square Register mobile application. The app, which is available on Apple and Android devises, will allow merchants to track sales, inventories and other data on smartphones and tablets. AFP PHOTO / JUSTIN TALLIS (Photo credit should read JUSTIN TALLIS/AFP/Getty Images)
Jack Dorsey, co-founder of Twitter Inc. and founder and chief executive officer of Square Inc., right, and Suzanne McKechnie Klahr, founder and chief executive officer of BUILD, stand for a photograph during the 2014 BUILD Gala in San Francisco, California, U.S., on Saturday, March 1, 2014. BUILD is an innovative, college preparatory program, whose mission is to use entrepreneurship to direct low-income high school students to college and careers. Photographer: David Paul Morris/Bloomberg via Getty Images
DETROIT, MI - Twitter Chairman and Square CEO Jack Dorsey moderates a panel discussion with Detroit entrepreneurs at Techonomy Detroit at Wayne State University September 17, 2013 in Detroit, Michigan. The topic of the discussion was 'Turbocharging Detroit's Teconomy.' (Photo by Bill Pugliano/Getty Images)
SAN FRANCISCO, CA - AUGUST 19: Square CEO Jack Dorsey (R) demonstrates the Square payment system for House Ways and Means Committee Chairman Dave Camp (R-MI) while touring the Square headquarters on August 19, 2013 in San Francisco, California. Senators Max Baucus (D-MT) and Dave Camp (R-MI) continued their Tax Reform Tour with a visit to the headquarters of mobile payment company Square. The tour is taking the two senators across the nation to speak to American people about how to fix the nation's broken tax code to benefit families and job creators. (Photo by Justin Sullivan/Getty Images)
Jack Dorsey, co-founder and chairman of Twitter Inc. and co-founder and chief executive officer of Square Inc., stands for a photo following an interview at Just Baked Cupcakes in Detroit, Michigan, U.S., on Tuesday, Sept. 17, 2013. Twitter Inc., which announced plans last week for an initial public offering, is still deciding whether to list on the New York Stock Exchange or Nasdaq Stock Market, setting off a horse race for the high-profile deal. Photographer: Jeff Kowalsky/Bloomberg via Getty Images
Jack Dorsey, chairman and co-founder of Twitter Inc., center, speaks as New York City Mayor Michael 'Mike' Bloomberg, right, and San Francisco Mayor Edward 'Ed' Lee listen during a press conference in San Francisco, California, U.S., on Friday, June 14, 2013. Dorsey, Mayor Bloomberg and Mayor Lee announced today that they will co-host the second annual Bloomberg Technology Summit to be held in New York on September 30. Photographer: David Paul Morris/Bloomberg via Getty Images
Jack Dorsey, chairman and co-founder of Twitter Inc., speaks during a Bloomberg West Television interview in San Francisco, California, U.S., on Friday, May 17, 2013. Twitter is expanding into smartphones and other wireless products, seeking to boost the number of users and advertisers. Photographer: David Paul Morris/Bloomberg via Getty Images
NEW YORK, NY - APRIL 23: Creator of Twitter Jack Dorsey (R) attends the 2013 Time 100 Gala at Frederick P. Rose Hall, Jazz at Lincoln Center on April 23, 2013 in New York City. (Photo by Jennifer Graylock/Getty Images)
Jack Dorsey, Chairman of Twitter and CEO of Square speaks at a conference of the New Economy Summit 2013 in Tokyo on April 16, 2013. Entrepreneurs of information technology (IT) and online business on April 16 gathered at a one-day conference, hosted by Japan Association of New Economy (JANE), led by Japanese electronic commerce giant Rakuten's Hiroshi Mikitani. AFP PHOTO / Yoshikazu TSUNO (Photo credit should read YOSHIKAZU TSUNO/AFP/Getty Images)
Jack Dorsey, co-founder and chairman of Twitter Inc. and founder and chief executive officer of Square Inc., pauses while he speaks to the media at the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, U.S., on Monday, Sept. 24, 2012. Square Inc., the mobile payment startup founded by Dorsey, is giving small merchants more flexibility in how they pay for credit-card transactions, increasing competition with PayPalâs rival card reader. Photographer: Scott Eisen/Bloomberg via Getty Images
DETROIT, MI - SEPTEMBER 12: Jack Dorsey, Chairman of Twitter and CEO of Square, speaks with the media after speaking at TECHONOMYDETROIT September 12, 2012 in Detroit, Michigan. The event, hosted by the Detroit Economic Club, is a one-day multidisciplinary gathering of national and local leaders about reigniting U.S. competitiveness, creating jobs, and revitalizing our cities in a technologized age. (photo by Bill Pugliano/Getty Images)
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Twitter shares rose 2.3 percent to $29.41 in premarket trading on Tuesday.
Twitter said it expected to incur about $10 million-$20 million in severance costs and $5 million-$15 million in restructuring costs.
More on Twitter Inc.
The company said it expected to record most of these pretax restructuring charges in the quarter ended Dec. 31.
Twitter is working to rekindle growth after its latest quarterly results in July revealed the slowest rise in monthly average users since it went public in 2013.
The company will report its third-quarter results on Oct. 27 after the market closes.
(Reporting by Devika Krishna Kumar and Lehar Maan in Bengaluru; Editing by Kirti Pandey)
Click through to see the history of Twitter:
Twitter to cut up to 8 percent of global workforce
MANCHESTER, UNITED KINGDOM - JULY 02: In this photograph illustration a member of the social networking site Twitter follows the twitterings of friends during a work break on July 2, 2009 in Manchester, England. The social network site, started in 2006 in California as a sideline project, has grown into a global brand becoming one of the fastest growing phenomenas of the Internet. (Photo by Christopher Furlong/Getty Images)
LONDON - JULY 02: In this photo illustration the Twitter website is displayed on a laptop computer on July 2, 2009 in London. The social network site, started in 2006 in California as a sideline project, has grown into a global brand becoming one of the fastest growing phenomenas of the Internet. (Photo by Peter Macdiarmid/Getty Images)
LONDON - JULY 02: In this photo illustration the Twitter website is displayed on a mobile phone near Parliament on July 2, 2009 in London. The social network site, started in 2006 in California as a sideline project, has grown into a global brand becoming one of the fastest growing phenomenas of the Internet. (Photo by Peter Macdiarmid/Getty Images)
Twitter co-founder Biz Stone (L) and conference organizer Steve Broback (R) from the Parnussus Group, pose for photographers at the start of the Twitter Conference LA in Los Angeles on September 22, 2009. Twitter, the micro-blogging platform which has attracted tens of millions of users but has yet to make money, has changed its terms to potentially open up the free service to advertisers. Twitter, which allows users to pepper one another with messages of 140 characters or less, has seen explosive growth since it launched publicly in August 2006 but has been unable so far to generate revenue. AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)
Julie Strange, a 27-year-old librarian at Towson Library in Maryland, shows a Twitter message on her phone displaying information on how to donate to the Red Cross. (Photo by Amy Davis/Baltimore Sun/MCT via Getty Images)
A screen shows the Twitter messages of users giving prayers for missing Malaysian airlines flight MH370 in Kuala Lumpur on March 28, 2013. Planes and ships were to resume the hunt for wreckage of flight MH370 after the weather cleared, as they chase down more satellite sightings of suspected debris nearly three weeks after the jet crashed. AFP PHOTO / Ed Jones (Photo credit should read ED JONES/AFP/Getty Images)
LONDON, ENGLAND - NOVEMBER 07: In this photo illustration, the Twitter logo and hashtag '#Ring!' is displayed on a mobile device as the company announced its initial public offering and debut on the New York Stock Exchange on November 7, 2013 in London, England. Twitter went public on the NYSE opening at USD 26 per share, valuing the company's worth at an estimated USD 18 billion. (Photo by Bethany Clarke/Getty Images)
SYDNEY, AUSTRALIA - NOVEMBER 26: (EXCLUSIVE COVERAGE) Katy Perry poses for a portrait backstage with the Twitter mirror at the 28th Annual ARIA Awards 2014 at the Star on November 26, 2014 in Sydney, Australia. (Photo by Mark Metcalfe/WireImage)