The company has already put a halt to hiring and is cutting non-labor costs
Tesla and SpaceX CEO Elon Musk was recently reported to be planning about cutting jobs and costs over at Twitter, once his multi-billion dollar acquisition is complete. Even though the acquisition hasn’t officially gone through, the axing seems to have already begun.
Interrupting my paternity leave to share some final @twitter-related news: I’m leaving the company after over 7 years.
— Kayvon Beykpour (@kayvz) May 12, 2022
Twitter’s general manager of consumer products, Kayvon Beykpour, who has been with the social media platform for the past seven years, was fired by now CEO, Parag Agrawal, whereas Bruce Falck, Twitter’s general manager for revenue, is leaving on his own terms.
Beykpour, who was on his paternity leave at the time of firing, says “The truth is that this isn’t how and when I imagined leaving Twitter, and this wasn’t my decision. Parag asked me to leave after letting me know that he wants to take the team in a different direction.”
The change comes at a crucial time for the social media platform. The company has already put a halt to hiring and is cutting non-labor costs, according to Engadget. And although Agrawal is in the process of firing some of the management, his own spot as the company’s chair is at risk. According to a CNBC News report, after Musk’s Twitter acquisition officially goes through, he’ll become the social media platform’s temporary CEO.
On the other hand, a Reuters report from last week suggests that Musk has a new CEO lined up to take over Twitter.
The world’s richest man aims to quintuple (5x) Twitter’s revenue by 2028. Read more about it below: