Twitter hires Google's $130M man

While Twitter announced Tuesday it would lay off 8 percent of its staff, it may have spent a pretty penny to bring on Omid Kordestani, former chief business officer at Google, as its new executive chairman.

One of the first employees at Google, Kordestani left the company in 2009 but returned last August. According to Google's annual proxy filing for 2014, Kordestani received nearly $130 million in compensation last year, making him Google's highest paid employee.

The move comes as Twitter is looking to refocus and keep its expenses down.

Read more from CNNMoney.