The first chapter of the Twitter-Elon Musk saga has concluded, but there is much more to come. After initially stating that he had no interest in purchasing Twitter, Musk agreed to the deal after the company threatened to sue him. Elon Musk has officially taken over as owner and CEO of Twitter, and his first move was to fire top executives.
Musk fires Twitter executives and announces additional layoffs
According to The New York Times, Elon Musk began his new job as Twitter’s owner and CEO by “cleaning house at Twitter” on Thursday, with the resignation of at least four top executives. Former CEO Parag Agrawal, Twitter CFO Ned Segal, policy executive Vijaya Gadde, and general counsel Sean Edgett are among those involved.
The layoffs do not appear to have occurred in a pleasant environment. According to anonymous NYT sources, at least one of the executives was “escorted out of Twitter’s office.” Requests for comment from the executives mentioned in the report were not returned.
Musk had until Friday to complete the Twitter acquisition. On Wednesday, the billionaire was seen speaking with engineers and executives at the company’s headquarters. Elon Musk has publicly stated his desire to make significant changes to Twitter, particularly the moderation rules. He also intends to lay off more workers.
Musk reconsidered the deal earlier this month and decided to purchase Twitter instead.
During this dispute, Twitter co-founder Jack Dorsey resigned from the company’s board, and Musk and then-CEO Parag Agrawal have been feuding ever since. At this point, no one knows what Twitter’s future will be with Elon Musk as CEO. We also don’t know if Musk will appoint someone else as Twitter’s CEO in the future.