Twitter leadership changes and hiring freeze aimed at building 'a stronger Twitter', CEO says
Twitter CEO said that he still expects plans to sell the company to Musk
Agrawal’s comments come after Musk tweeted that the deal is on hold until he finds out more details on how many fake accounts are there on Twitter
Twitter Inc (NYSE: TWTR) Chief Executive Parag Agrawal on Friday said that he had announced leadership changes and a hiring freeze to “build a stronger Twitter,” even as Elon Musk proposed to take over the social media company.
“Some have been asking why a ‘lame-duck’ CEO would make these changes if we’re getting acquired anyway,” Agarwal wrote in a series of tweets.
“While I expect the deal to close, we need to be prepared for all scenarios,” the tweet said, mentioning that he is accountable for leading and operating Twitter.
On Thursday, Kayvon Beykpour, who led the consumer division, and Bruce Falck, who oversaw revenue, said Agarwal fired them.
Twitter CEO on Thursday also said that Twitter would pause most hiring and would review all existing job offers to determine whether any “should be pulled back.”
“People have also asked: why manage costs now vs after close?” Agarwal, on Friday, tweeted.
“Our industry is in a very challenging macro environment – right now. I won’t use the deal as an excuse to avoid making important decisions for the health of the company, nor will any leader at Twitter.”
Earlier on Friday, Musk tweeted that he has put the deal on hold until he found out more details on how many fake accounts, like spambots, are on the social media platform.
Twitter sank almost 10%, adding to a recent plunge in the market value. The microblogging company now worth about $13 billion less than Musk’s agreed upon bid last month of around $44 billion.
Picture Credit: The Verge
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