Musk to acquire Twitter, employees fear layoffs, future

Twitter CEO unable to clarify staff’s queries, unsure of future

0
14400

Employees of Twitter have been experiencing a lot of uncertainty ever since talks of a takeover by Elon Musk have been on.

While Musk is all set to acquire Twitter soon, the employees at Twitter fear layoffs. However, Parag Agrawal, their CEO, while being unable to give satisfactory answers during a town hall meeting, or even allay their fears, has told them that Musk would be the best person to clarify their queries.

An interaction of the employees with Musk is on the cards, although the date for the same has not been fixed.

While Agrawal did say that no layoffs were being planned right now, he did not deny the possibility of any in the future, either. It is also clear that Agrawal will remain in his position till the deal is formalised and completed. Once the deal is closed the Twitter board will most likely be dissolved.

Earlier this month, Musk had expressed his lack of confidence in the management of Twitter. Therefore, speculations are on as to who will head Twitter post its acquisition by Tesla boss Musk.

Musk will acquire the social-media company for $44 billion, and Agrawal is expected to receive $42 million in case he is terminated within a year of the acquisition, as per estimates by Equilar.

Meanwhile, Musk has been very clear about his intention to make Twitter a platform for free speech, which he believes will not be possible if the social-media continues to function as it is. Clearly, there is major transformation in the offing.

Comment on the Article

Please enter your comment!
Please enter your name here

2 + eight =