The CEO of Twitter Parag Agrawal communicated on dismissal of two executives and imposed the hiring block in the social. In addition, he announced that he will limit other expenses to prepare the social network for the acquisition by Elon Muskexpected later this year for 44 billion dollars.
Twitter announces layoffs and hiring freezes
Parag Agrawal has assumed the role of CEO last November, taking the reins from founder Jack Dorsey. But after a few months of management, the announcement of the acquisition by Elon Musk arrives and the CEO must prepare the company to exit the market.
For this reason, in a letter to employees leaked to the press (and confirmed by company spokespersons) he announced drastic changes. Among these, the decision to replace Kayvon Beykpour as head of the consumer division e Bruce Falck for the management of corporate income. They will both leave Twitter.
From his account Twitter Beykpour explains: “This is not how I imagined leaving Twitter and this is not my decision. Parag asked me to leave after making it known that he wants to take the team in another direction ”.
Jay Sullivananother Twitter internal executive, will manage the company’s consumer division and serve as interim corporate revenue manager.
The company will not be hiring until Musk’s takeover, limiting expenses as much as possible. The agreement reached for the acquisition of the company should become operational by the end of the year but there are no specific details or dates. An acquisition of this level requires controls and negotiations that could take longer than expected. We will keep you posted.