According to an internal memo obtained by Bloomberg, Twitter will not be hiring new employees and may rescind offers already in place. Certain exceptions will be made for business-critical roles, as determined by Twitter leadership. According to the memorandum, the company is also recovering costs such as travel, consulting and marketing.
The truth is, it wasn’t when I imagined leaving Twitter, and it wasn’t my decision. Parag asked me… https://t.co/TCmDsyNo9R
— Kayvan Bekpore (@kayvz) 1652372715000
Aggarwal said global events, including the war in Ukraine and supply chain constraints, have hurt Twitter’s business results and may continue to do so. The company is not planning company-wide job cuts, “but leaders will continue to make changes in their organizations to improve efficiency as needed,” Agarwal wrote.
Agarwal said, “At the start of the pandemic in 2020, it was decided to invest aggressively to deliver large growth in viewership and revenue, and as a company we have not made intermediate milestones that are confident in these goals. enable it,” Agarwal said. “In order to responsibly manage the organization as we accelerate our roadmap and our work, we need to be intentional about our teams, hiring and costs.”
Two of Twitter’s top leaders are also leaving. The head of consumer products, Kyvan Becpour, and the head of revenue, Bruce Falk, are both leaving the company. Jay Sullivan will take over as head of product and interim head of revenue. According to a person familiar with the matter, Sullivan has talked about refocusing the company on fewer projects during recent team- and company-wide meetings.
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Becpour said on Twitter that he did not envision leaving the company. “Parag asked me to leave after telling me that he wanted to take the team in a different direction,” he said.
A Twitter spokesperson did not respond to a request for comment. As Musk does not yet have Twitter, he is not yet directly influencing the company’s decision-making. Large competitor Meta Platforms Inc. also recently said it would reduce planned spending.
The change reflects the current state of Twitter while it awaits a new owner. Musk, the world’s richest man and CEO of Tesla Inc., agreed last month to buy the company for $44 billion, but the deal may not be finalized for months, as Musk is still working to secure financing. are doing. On Tuesday he suggested the deal could still fall through.
This has hit Twitter employees, as many people do not know whether the projects or teams they are working on will be given priority under the new leadership.
Originally published at Pen 18
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