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

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

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SAN FRANCISCO: Two senior Twitter leaders who oversee the buyer and income divisions will depart the social media firm, Chief Govt Officer Parag Agrawal informed workers in a memo on Thursday, in one of many largest shake-ups on the firm since billionaire Elon Musk introduced he would purchase it for $44 billion.
Agrawal additionally stated within the memo, which was seen by Reuters, that Twitter would pause most hiring and assessment all present job presents to find out whether or not any “must be pulled again.”
He attributed the choice partly as a result of Twitter was not in a position to hit consumer development and income milestones to take care of confidence that it may attain aggressive development targets it had set in 2020.
“We have to proceed to be intentional about our groups, hiring and prices,” Agrawal wrote.
The corporate was concentrating on $7.5 billion in annual income and 315 million each day customers by the tip of 2023, however withdrew these objectives in its latest earnings report.
Kayvon Beykpour, who led Twitter’s client division, and Bruce Falck, who oversaw income, each tweeted on Thursday that the departures weren’t their choices.
“Parag requested me to depart after letting me know that he desires to take the staff in a unique path,” Beykpour tweeted, including he was nonetheless on paternity depart from Twitter.
“I am going to make clear that I too was fired by (Parag),” Falck stated, although he appeared to later delete the tweet.
Falck thanked his staff in a tweet thread and up to date his bio to say “unemployed.”
“We have been in a position to obtain the outcomes we did via your arduous work – quarterly income doesn’t lie. Google it,” he stated.
Jay Sullivan, who was main the buyer unit throughout Beykpour’s depart, will develop into everlasting head of the division. He can even oversee the income staff till a brand new chief is called, Agrawal stated within the memo.
Whereas no layoffs are deliberate, Agrawal stated Twitter will scale back its spending on contractors, journey and advertising and marketing in addition to its actual property footprint.

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