The Impact of Leadership Changes at Twitter
According to a staff memo that was sent by the CEO of Twitter, Parag Agrawal, the company has started making some changes in some of its high profile leadership positions.
More specifically, according to the memo, the general manager of Twitter, Kayvan Beykpour would be leaving the company, as well as the general manager for revenue, Bruce Faulk.
According to the memo, the general manager would be replaced by the interim general manager of consumer products, Jay Sullivan.
According to the CEO, from the memo, the latest departures in leadership positions are going to be followed by a pause on most new hires, as well as a slowdown in spending. Additionally, he made sure to assure the employees that the company wasn’t planning on making any layoffs at the moment.
This new change in various leadership positions at Twitter comes shortly after Elon Musk announced that he would be purchasing the social media platform for $44 billion.
Although the news of Elon Musk’s purchase started dominating the news cycle ever since it was first announced, most of the employees at Twitter were largely kept in the dark about what this acquisition would mean for them in their positions.
According to a number of employees most of them received conflicting messages and ambiguous answers from the company.
According to Musk, he stated that he wanted to purchase the social media platform and make some very drastic changes in the way that the platform operates.
More specifically, Musk stated that he wanted to see the number of fake accounts and spam bots that were present on Twitter, and potentially remove them.
However, according to more recent findings from Twitter, the number of spam and fake accounts actually make up less than 5% of the total number of users on Twitter.
After this announcement from Twitter, Musk stated that he would be putting the $44 billion deal with Twitter on hold, as he had decided to look into the number of fake and bot accounts on the platform himself and get more details on the situation.
Musk had also previously stated that he wanted to change the strict free speech rules and regulations on the platform, and many responded with questions on how that decision and his ownership would impact one of the biggest social media platforms in the world.
In fact, Musk had also stated that he was planning on lifting the ban on the former US President, Donald Trump, who was banned last year. Although most of the other acquisitions on this kind of scale tend to be handled in a more choreographed manner, Musk has taken a more improvised approach.
Before pursuing the deal, he conducted rather limited due diligence and stated that he didn’t care about the details of the company’s finances.
Additionally, after Musk’s initial announcement about the acquisition and statement on fake and spam accounts on the platform, the stock price per share for the company significantly reduced.
Although the deal between Musk and Twitter is still on hold, it remains to be seen how the acquisition will be impacting the platform itself, as well as its users in the future.
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