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

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A 3D-printed Twitter emblem on non-3D printed Twitter logos is seen on this image illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration

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Might 12 (Reuters) – Two senior Twitter (TWTR.N) leaders who oversee the patron and income divisions will depart the social media firm, Chief Govt Officer Parag Agrawal informed 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 mentioned within the memo, which was seen by Reuters, that Twitter would pause most hiring and evaluate all present job gives to find out whether or not any “needs to be pulled again.”

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

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“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 each day customers by the top of 2023, however withdrew these targets in its latest earnings report.

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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 crew in a unique course,” Beykpour tweeted, including he was nonetheless on paternity depart from Twitter.

“I will make clear that I too was fired by (Parag),” Falck mentioned, although he appeared to later delete the tweet.

Falck thanked his crew in a tweet thread and up to date his bio to say “unemployed.”

“We had been in a position to obtain the outcomes we did via your exhausting work – quarterly income doesn’t lie. Google it,” he mentioned.

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

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

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Reporting by Sheila Dang in Dallas; extra reporting by Katie Paul
Enhancing by Chizu Nomiyama, Will Dunham, Nick Zieminski and Bernard Orr

Our Requirements: The Thomson Reuters Belief Rules.

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