Twitter turns out to have almost stopped hiring new employees, and two executives are also fired under the leadership of the CEO
Twitter, which
Twitter (TWTR) to Freeze Hiring, Rescind Some Offers and Cut Costs --Bloomberg
https://www.bloomberg.com/news/articles/2022-05-12/twitter-to-freeze-hiring-rescind-some-offers-and-cut-costs
Here's Twitter CEO Parag Agrawal's memo about firing execs and a hiring freeze --The Verge
https://www.theverge.com/2022/5/12/23068985/twitter-memo-parag-agrawal-firing-execs-hiring-freeze
Twitter CEO Parag Agrawal fires two top executives, freezes hiring --The Verge
https://www.theverge.com/2022/5/12/23068851/twitter-product-chief-kayvon-beykpour-bruce-falck-parag-agrawal
Beykpour, who was on childcare leave, announced on May 12, local time, that he would leave Twitter, where he had worked for more than seven years. Beykpour said leaving the company wasn't his intention and asked CEO Parag to resign, saying 'I want to take the team in a different direction.'
The truth is that this isn't how and when I imagined leaving Twitter, and this wasn't my decision. Parag asked me to leave after letting me know that he wants to take the team in a different direction.
— Kayvon Beykpour (@kayvz) May 12, 2022
Falck also reported on Twitter that he was 'dismissed by CEO Parag,' but the tweet has already been deleted. Instead, 'I would like to thank all the teams and partners who have been lucky enough to work with me over the last five years. Building and running these businesses is a team sport.' Posted.
I wanted to take a moment to thank all the teams and partners I've been lucky enough to work with during the past 5 years. Building and running these businesses is a team sport
— Bruce.falck () ???? (@boo) May 12, 2022
Jay Sullivan , who joined Twitter via Facebook in November 2021 after the two retired, will take over the work of the two. In addition, CEO Parag thanked them by reply , but at the time of writing the article, there was no reply from them.
In addition, Twitter's internal notes obtained by foreign media Bloomberg and The Verge stated that most new hires, except for their important role in the business, would be suspended and some offers would be withdrawn. thing. It will also reduce various costs such as business trips, events and marketing, but CEO Parag said he has no plans for layoffs.
In an internal memo to employees, CEO Parag said, 'At the start of the 2020 coronavirus infection (COVID-19) pandemic, we will make aggressive investments to achieve significant user and revenue growth. It was decided, however, that the company was unable to reach an intermediate milestone that deepened its confidence in these goals, and in recent years the deterioration of the global macroeconomic environment and the war in Ukraine have been me. It has affected our performance and may continue to do so. ”“ Keep in mind teams, hires, and costs to manage your organization responsibly while strengthening your roadmap and work. It is necessary. '
Bloomberg points out that the series of changes reflects the difficulty of Twitter waiting for Mr. Musk's acquisition. Twitter employees also report that they are not sure if the projects and teams they are working on will be prioritized under new leadership and are suffering.
In addition, although Mr. Musk's acquisition proposal was agreed, investors are concerned that 'the acquisition transaction may not be completed due to the obstruction of regulators and the problem of financing,' and Twitter's stock price is masked. It is also reported that it is below his acquisition price.
Twitter market cap has dropped to $ 9 billion below Musk purchase price
https://www.cnbc.com/2022/05/12/twitter-market-cap-has-dropped-to-9-billion-below-musk-purchase-price.html
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