After Uber, it is now Twitter that is imposing a hiring freeze. In an internal memo, Parag Agrawal, CEO, Twitter, has announced this momentary freeze in the hiring process at the Company. This decision is a pat of the cost-cutting efforts being witnessed at the Twitter amidst these uncertain times, post Elon Musk’s takeover of the social-media company.
As per the memo, it has been reported that apart from a hiring freeze, other cost-cutting measures will also be taken such reduction of travel expenses and consulting and marketing activities.
Business results at the firm have also been adversely affected by the Russia-Ukraine war, a crunch in the supply chain and other external factors.
In the memo, Agrawal has very clearly mentioned that there is no intention of laying off people in the near future. It also revealed that some hiring may take place in key and critical roles as an exception.
Twitter is not the only company that has decided to freeze its hiring activity in the wake of cost cutting. Dara Khosrowshahi, CEO, Uber, also mentioned in a letter to employees recently that Uber wants to focus on increasing proficiency and efficiency in the company and will consider ‘hiring’ as a privilege in order to cut costs.
In another development, two senior leaders at Twitter, Kayvon Beykpour, head of consumer product, and Bruce Falck, in charge of revenue, are both moving out of the Company. Jay Sullivan, will be taking over as head of product and interim head of revenue.
These changes, it is speculated, have been triggered by the change in the ownership of Twitter.