Home News Twitter CEO says two leaders to depart, hiring paused amid Musk takeover By Reuters

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

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

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© Reuters. Printed Twitter logos are seen on this image illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration


By Sheila Dang

(Reuters) -Two senior Twitter (NYSE:) leaders who oversee the patron and income divisions will depart the social media firm, Chief Govt Officer Parag Agrawal instructed staff 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.

Agrawal additionally stated within the memo, which was seen by Reuters, that Twitter would pause most hiring and evaluation all present job gives to find out whether or not any “must be pulled again.”

He attributed the choice partly as a result of Twitter was not capable of hit consumer development and income milestones to keep up confidence that it might 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 focusing on $7.5 billion in annual income and 315 million day by day customers by the tip of 2023, however withdrew these objectives in its current 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 selections.

“Parag requested me to go away after letting me know that he needs to take the staff in a distinct course,” Beykpour tweeted, including he was nonetheless on paternity depart from Twitter.

“I will 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 had been capable of obtain the outcomes we did by means of your exhausting work – quarterly income doesn’t lie. Google (NASDAQ:) it,” he stated.

Jay Sullivan, who was main the patron unit throughout Beykpour’s depart, will turn 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 cut back its spending on contractors, journey and advertising in addition to its actual property footprint.

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