The first chapter of the saga between Twitter and Elon Musk is over, but there’s more to come. After he first said he was no longer interested in buying Twitter, Musk decided to agree to the deal after the company threatened to sue him. Now Elon Musk has officially taken over as the owner and CEO (interim?) of Twitter, and his first action there was to fire senior executives from the company.
Musk fires Twitter executives, plans more layoffs
As I mentioned New York timesElon Musk kicked off his new job as Twitter owner and CEO with “Cleaning House at Twitter” with at least four senior executives resigning on Thursday. This includes the company’s former CEO Parag Agrawal, Twitter CFO Ned Segal, Chief Policy Officer Vijaya Jade and General Counsel Shaun Edget.
The layoffs do not appear to have occurred in a friendly situation. Unknown The New York Times Sources say at least one of the executives was “escorted out of Twitter’s office”. None of the executives named in the report responded to requests for comment.
Musk had until Friday to complete the Twitter acquisition. The billionaire was seen on Wednesday at the company’s headquarters talking to engineers and some executives. Elon Musk has publicly expressed his desire to make major changes to Twitter, especially when it comes to moderation rules. It also plans to lay off more employees.
The saga between Musk and Twitter began in April, when the CEO of Tesla announced that he would buy the social network for $44 billion. However, a few months later, Musk backed out of the deal, which led to him being sued on Twitter for disrespecting the acquisition. Earlier this month, Musk reconsidered the deal and decided to buy Twitter.
During this dispute, Twitter co-founder Jack Dorsey left the company’s board of directors while former CEO Parag Agrawal and Musk have been clashing ever since. At this point, no one really knows what the future of Twitter will be with Elon Musk as CEO. We also don’t know if Musk will choose someone else to be Twitter’s CEO in the future.
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