The transition from Twitter to a publicly traded company run by CEO Parag Agrawal to a private company owned by billionaire Elon Musk has been anything but smooth and drama-free.
The purchase of Musk, which is expected to close in late 2022, has been the subject of controversy among Twitter employees of shareholders who have expressed concern that the company is moving forward.
It seems as if some of these concerns were well-founded last week when Agrawal told employees that two top Twitter executives, Kayvon Beykpour (CEO) and Bruce Falck (revenue manager), would leave. company shortly after Musk himself. he explained that his offer to the company was “pending” pending an accurate report on what percentage of Twitter users are actually robots and spam accounts.
Agrawal did not publicly comment on the matter at the time, but went on Twitter over the weekend to break his silence on the Musk deal and the departure of employees, noting that he “expects the closure to close.” agreement “.
Related: Elon Musk said he didn’t care about Twitter employees leaving
“Changes that affect people are always difficult. And some have wondered why a CEO of a “lame duck” would make these changes if we acquired ourselves anyway. The short answer is very simple ” Agrawal wrote. “We have to be prepared for all scenarios and always do what is right for Twitter. I am responsible for directing and operating Twitter, and our job is to build a stronger Twitter every day.”
The CEO explained that Twitter is constantly improving, regardless of the high-level changes that are taking place and using it as an explanation for why the company is now also focusing on reducing overall non-labor costs. .
“Our industry is in a very difficult macro environment right now,” He said. “I will not use the agreement as an excuse to avoid making important decisions for the health of the company, nor any Twitter leader.”
Agrawal closed by promising “more transparency” and “more changes for the better” before thanking his team for the work done throughout the process.
Related: Twitter announces hiring freeze, eliminates top executives while Elon Musk announces bid is “pending”
The CEO’s Twitter note to employees on May 12 explained that the company was subject to a freeze on hiring and reducing non-work-related costs and stated that while the company would not be promulgated layoffs. Across the company, Twitter leaders “would continue to make changes to their organizations to improve efficiency as needed.”
That came almost a month after Twitter posted its first-quarter earnings in 2022, claiming that Twitter accounts and Twitter bots currently account for less than 5% of total MDAUs on the social media platform, a calculation that the company admitted that “may not accurately represent the real number.”
This led Musk to stop the deal until these calculations were verified, as the removal and management of these accounts is something that the CEO of Tesla is very determined to focus on when and when it is done. Twitter post.
“I have also publicly promised that we must get rid of robots, trolls and scams and everything, because obviously this is diminishing the user experience, and we do not want people to be deceived by their money and this kind of thing. thing, “Musk said earlier this month on the red carpet at the Met Gala. “I’m definitely on the road to war, so if someone uses a bot or a troll on me, I’m definitely their enemy.”
Twitter was down more than 27.5% year-over-year from Monday afternoon.
Related: What other CEOs can learn from Elon Musk’s aggressive and unorthodox takeover of Twitter