Twitter CEO Parag Agrawal announced a hiatus on new hires and spending cuts overall amid a global economic downturn and a period of uncertainty leading up to Elon Musk’s acquisition of the social network. In addition, the company lost two top managers unexpectedly for them.
In addition to halting recruitment, according to an internal instruction obtained by Bloomberg through its channels, the company can cancel job offers already made. This does not apply to business-critical positions. In addition, it is planned to save on business trips, consulting services and marketing.
According to Agarwal, one of the main reasons for the change was the events in Ukraine, as well as disruptions in supply chains, which in some way affected Twitter’s business performance. However, no major layoffs are expected, although management will continue to streamline the business.
An unpleasant surprise for top managers was the unexpected dismissal of the director of consumer relations Kayvon Beykpour, as well as the director of revenue management Bruce Falk (Bruce Falck). “The truth is, I didn’t envision leaving Twitter this way and at the wrong time. Parag asked me to leave after saying that he intends to take the team in a different direction,” Bakpour wrote on the social network.
Both senior executives will be filled by Twitter’s VP of Product Jay Sullivan, who has spoken at recent corporate events about the need to focus on fewer projects.
At the same time, the likely future owner Elon Musk does not yet have any influence on the decision-making process in the company, and it could take months to complete the purchase. This situation leaves employees and managers in a state of complete uncertainty, since they do not know which areas will be priority under the new owner.
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