Hours after Elon Musk put the $ 44 billion Twitter takeover deal on ice, Parag Agrawal – CEO of the social media giant – posted a rare series of posts amid uncertainty and buzzing over churning within the organization. – A lot has happened in recent weeks. I have been focused on the company and have not said much in public during this time, but I will do it now “, the 37-year-old leader began to say.
Although there have been reports of layoffs and restructuring, which cleared the air, Agrawal stressed that he was “responsible” for leading, even though he was called a “lame-duck” CEO for making changes in the midst of the confusion caused by the acquisition news. last month .
“We announced changes in our management team and our business yesterday. Changes that affect people are always difficult. And some have asked why a ‘lame-duck’ CEO would make these changes if we were to be acquired anyway.”
“The short answer is very simple: Although I expect the deal to end, we must be prepared for all scenarios and always do what is right for Twitter. I am responsible for leading and running Twitter, and our job is to build a stronger Twitter every day. ” wrote Agrawal.
In an attempt to convey the feeling of the moment, Agrawal emphasized: “No one on Twitter works just to keep the lights on.”
“We are proud of our work. Regardless of the company’s future ownership, we are here and improving Twitter as a product and business for customers, partners, shareholders and all of you. People have also asked: why manage costs now versus after closing? Our industry is “in a very challenging macro environment – right now. I will not use the deal as an excuse to avoid making important decisions for the company’s health, not even any Twitter leader.”
On Friday, Musk, the richest person in the world, dropped a bomb when he announced that the biggest technical business of recent times will be on ice. “The Twitter business is paused pending details that support the calculation that spam / fake accounts actually represent less than 5% of users (sic)”.
“Still engaged in acquisitions,” said the 50-year-old Tesla boss.
Musk has been quite loud about the changes he intends to bring with him after the takeover, although there has been concern about the probability that content moderation will disappear completely.
On the inside, the overwhelming times have also seen some redundancies. Two senior executives – Kayvon Beykpour, a general manager leading research, design and engineering at Twitter and product manager Bruce Falck – are on their way out, the AFP news agency reported.
The report also said that Twitter has frozen employment except for business-critical roles.
“The truth is, it was not how and when I imagined leaving Twitter, and this was not my decision,” Beykpour, who is on paternity leave, said in a tweet.
(With input from AFP)