International Partners: Just days after being confirmed as the permanent CEO at Twitter, the social media company he co-founded, Jack Dorsey has shown that he isn’t afraid to make tough, unpopular decisions.

The San Francisco-based micro-blogging company is to cut as many as 336 jobs – some 8% of its global workforce – in a bid to slash costs as the company struggles to add monthly active users and to arrest the firm’s uninterrupted streak of annual financial losses since its inception nearly 10 years ago.

Twitter has come in for harsh criticism from investors over its apparent inability to add new monthly users and the company’s stock is trading close to the $26 IPO price set at its glitzy November 2013 debut on the NYSE.

“Dorsey’s right to cut costs but often, companies do that when they don’t really know what else to do,” said Mike Quinlan, social media analyst at International Partners. “He told employees that a smaller workforce would result in products being researched, developed and launched more quickly but we think the move is aimed at ending the 9 year run of losses at the company.”

Since Twitter was founded by Dorsey and his partners, it has lost $2 billion.

International Partners has had a standing “sell” rating on Twitter since it set its all-time high above $70. “We never considered it a viable rival to the likes of Facebook or even WhatsApp. Even Dorsey says the core product is too confusing for many people to use but, while we’re definitely not buyers, we do believe that Dorsey is a visionary; if anyone can turn Twitter around, it’s him,” said Quinlan.

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