Twitter CEO explains why he’s jostling management and laying off staff ahead of Elon Musk’s expected takeover: ‘We need to be prepared for all scenarios’


Elon Musk and Parag Agrawal.Getty Images

  • Twitter CEO Parag Agrawal has not been active on Twitter since Musk’s purchase.

  • Agrawal in a thread referenced Twitter’s hiring pause and said he expected the deal to go through.

  • “I will not use the agreement as an excuse to avoid making decisions important to the health of the business,” he wrote.

Twitter CEO Parag Agrawal hasn’t been very vocal on his Twitter account since Elon Musk launched a bid to buy Twitter for $44 billion in late April – but that changed on Friday.

“A lot has happened over the past few weeks. I’ve been focused on the business and haven’t said much publicly during this time, but I will now,” Agrawal said. wrote.

In a lengthy Twitter thread, he discussed Twitter’s real hiring freeze and said he expected Musk business to passamong other topics.

The world’s richest man and future owner of Twitter said on Monday the deal had been put on hold “pending details supporting the calculation that spam/fake accounts actually represent less than 5% of users”, but later added that he still intended to complete the purchase. .

Musk fought back against spambots and pledged to “authenticate all humans”. But as Variety pointed out, Twitter has been using the 5% figure in financial documents since it went public in 2013, and it’s possible Musk is just looking for a way out of the way things are going.

On Thursday, Agrawal emailed staff and said the company plans to suspend hiring in addition to vital positions, potentially resume offers that have already gone out and that two senior executives are leaving.

And that has just been the drama of this week. Agrawal has been relatively quiet on his account through a host of moments online over the past few weeks, from Musk tweeting about his employees to Musk’s ideas for the company coming out.

In Friday’s thread, Agrawal twice discussed answering questions about his decision-making lately.

“Some have asked why a ‘lame’ CEO would make these changes if we got bought out anyway,” he wrote.

It was unclear who he was referring to, but CNBC Scott Wapner replied to the first Tweet in Agrawal’s thread and asked exactly that, for example.

The answer, Agrawal continued, (replying to himself) is “We have to be prepared for all scenarios and always do what’s right for Twitter.”

Agrawal added that he and the rest of Twitter executives would not take advantage of Musk’s impending ownership to “avoid making important decisions for the health of the business” because tech companies like Twitter are currently in a bind. “challenging macro environment” as stocks fall and pair Facebook freezes hiring.

At the end of the thread, he said people could expect more communication from him, but not “the loudest sonic bite” and thanking his existing staff.

Twitter did not immediately respond to a request for comment.

Read the original article on Business Insider


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