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Twitter CEO said company could not hit user growth and revenue milestones to maintain confidence
Two senior Twitter Inc (NYSE: TWTR) leaders are leaving the company in one of the biggest shake-ups since billionaire Elon Musk announced to buy the microblogging platform for $44 billion.
Kayvon Beykpour, who led the consumer division, and Bruce Falck, who oversaw revenue, will depart the company, Reuters reported on Thursday, citing an internal memo to the employees sent by Twitter Chief Executive Parag Agrawal.
In a series of tweets, Beykpour, who worked for over seven years at Twitter, said, “Parag asked me to leave after letting me know that he wants to take the team in a different direction,” mentioning that he is in the midst of paternity leave.
Falck thanked the teams he worked with at the company through a series of tweets but did not directly address the circumstances around his departure.
“I’ll clarify that I too was fired by (Parag),” Falck, who worked for five years, wrote on Twitter but promptly deleted the tweet.
Cutting costs
In the memo, Agrawal also said that Twitter would pause most hiring and would review all existing job offers to determine whether any “should be pulled back,” Reuters reported.
A spokesperson from the social media company confirmed the news to CNBC.
The news comes as Musk said that he would cut executive and board pay and push the company to lower other costs.
Agrawal also mentioned that Twitter could not hit user growth and revenue milestones to maintain confidence that it could reach the aggressive growth targets it had set in 2020.
“We need to continue to be intentional about our teams, hiring and costs,” Agrawal wrote.
The memo also said that Jay Sullivan would take over as general manager of Bluebird, the consumer team, and interim general manager of Goldbird, the revenue team.
Picture Credit: Reuters
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