Two Twitter execs leave, hiring stalls as Musk buyout looms

Two top Twitter leaders who oversee the consumer and revenue divisions are leaving the social media company, CEO Parag Agrawal told employees in a memo.

It is one of the biggest changes in the company since the billionaire Elon Musk announced that he would buy it for 44,000 million dollars (42,000 million euros).

Agrawal also said in the memo, which was seen by Reuters, that Twitter would halt most hiring and review all existing job postings to determine if any “should be pulled.”

He attributed the decision in part to Twitter standing out for hitting user and revenue growth milestones to maintain confidence that it could hit the aggressive growth targets it had set for itself in 2020.

“We need to continue to be intentional with our teams, hiring and costs,” Agrawal wrote.

The company was targeting $7.5 billion in annual revenue and 315 million daily users by the end of 2023, but withdrew those targets in its recent earnings report.

Kayvon Beykpour, who ran Twitter’s consumer division, and Bruce Falck, who oversaw revenue, tweeted yesterday that the exits were not their decisions.

“Parag asked me to leave after letting me know he wants to take the team in a different direction,” Beykpour tweeted, adding that he was still on paternity leave on Twitter.

“I will clarify that (Parag) also fired me,” Falck said, though he appeared to delete the tweet later.

Falck thanked his team in a tweet and updated his bio to read “unemployed.”

“We were able to achieve the results we did through your hard work: quarterly revenue doesn’t lie. Google it,” he said.

Jay Sullivan, who ran the consumer unit during Beykpour’s leave, will become the permanent head of the division. He will also oversee the revenue team until a new leader is named, Agrawal said in the memo.

While no layoffs are planned, Agrawal said Twitter will reduce its spending on contractors, travel and marketing, as well as its real estate footprint.

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