Twitter CEO says two leaders to depart, hiring paused amid Musk takeover

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Twitter CEO Parag Agrawal says two leaders to depart, hiring paused amid Elon Musk takeover
Whereas no layoffs are planned, Agrawal said Twitter will reduce its spending on contractors, travel and advertising, and marketing in addition to its actual real-estate footprint.

Two senior Twitter leaders who oversee the consumer and revenue divisions will depart the social media company, Chief Executive Officer Parag Agrawal told employees in a memo on Thursday.

In one of many greatest shake-ups on the firm since billionaire Elon Musk introduced he would purchase it for $44 billion.

Whereas no layoffs are planned, Agrawal said Twitter will reduce its spending on contractors, travel and advertising, and marketing in addition to its actual real-estate footprint.

Agrawal also mentioned in the memo, which was seen by Reuters, that Twitter would pause most hiring and assessment of all present job offers to find out whether or not any “should be pulled again.”

He attributed the choice partly to a result Twitter was not in a position to hit personal development and income milestones to keep up confidence that it may attain aggressive development targets it had set in 2020.

Agrawal wrote, “We have to proceed to be intentional about our groups, hiring, and prices.”

The corporate was concentrating on $7.5 billion in annual income and 315 million everyday customers by the tip of 2023, however, withdrew these targets in its current earnings report.

Kayvon Beykpour, who led Twitter’s consumer division, and Bruce Falck, who oversaw revenue, each tweeted on Thursday that the departures weren’t their selections.

“Parag requested me to depart after letting me know that he desires to take the workforce in a distinct course,” Beykpour tweeted, adding that he was on paternity depart from Twitter.

“I will make clear that I too was fired by (Parag),” Falck mentioned, although he appeared to later delete the tweet.
Falck thanked his workforce in a tweet thread and up to date his bio to say “unemployed.”

He mentioned, “We have been in a position to obtain the outcomes we did via your exhausting work – quarterly income doesn’t lie. Google it.”

Jay Sullivan, who was main the buyer unit throughout Beykpour’s departure, will turn into the everlasting head of the division. He can even oversee the income workforce till a brand new chief is called, Agrawal mentioned within the memo.

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