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

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


Two senior Twitter leaders who oversee the buyer and income divisions will depart the social media firm, Chief Executive Officer Parag Agrawal instructed staff 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 mentioned within the memo, which was seen by Reuters, that Twitter would pause most hiring and overview all current job presents to find out whether or not any “should be pulled back.”

He attributed the choice partly as a result of Twitter was not capable of hit person development and income milestones to take care of confidence that it might attain aggressive development targets it had set in 2020.

“We need to continue to be intentional about our teams, hiring and costs,” Agrawal wrote.

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

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

“Parag asked me to leave after letting me know that he wants to take the team in a different direction,” Beykpour tweeted, including he was nonetheless on paternity depart from Twitter.

“I’ll clarify that I too was fired by (Parag),” Falck mentioned, 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 were able to achieve the results we did through your hard work – quarterly revenue does not lie. Google it,” he mentioned.

Jay Sullivan, who was main the buyer unit throughout Beykpour’s depart, will grow to be everlasting head of the division. He may also oversee the income staff till a brand new chief is known as, Agrawal mentioned within the memo.

While no layoffs are deliberate, Agrawal mentioned Twitter will cut back its spending on contractors, journey and advertising and marketing in addition to its actual property footprint.

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Source: www.financialexpress.com”