What Goes on in Musk’s Mind? First Twitter Agreement Break, Now Job Cuts?
Twitter employees search for answers as Musk’s Twitter takeover now points at and now job cuts
When Twitter shareholders agreed to sell the company to Tesla CEO Elon Musk for US$44 billion on April 25, the parties agreed on certain terms of the merger, signed the document, and submitted it to the US Securities and Exchange Commission (SEC). Musk owned Twitter for a month yet now he plans for job cuts. He is currently tied to a contract with the current management of social networks and faces a US$1 billion penalty for withdrawal. In addition, both sides have agreed on specific rules of conduct for the period prior to the conclusion of the contract.
Elon Musk plans to organize job cuts at Twitter after taking office to improve profitability. He was talking to bankers on Twitter about “improving efficiency.” Twitter CEO Parag Agrawal has not responded to the company’s headcount reductions after the acquisition of Elon Musk. However, the CEO informed employees in a clip that was disseminated on social media that Elon Musk would immediately address the concern after Twitter accepted the bid that Musk presented.
After Twitter executives accepted the bid earlier this week, Elon Musk tweeted about the changes he hopes to bring to the microblogging platform, starting from the “free speech” to the “open source” release of the algorithm.
Yet CEO Parag Agrawal says no layoffs at Twitter
Twitter CEO Parag Agrawal stated, after Elon Musk’s successful acquisition that “despite the turmoil,” the entire team will continue to strive to improve Twitter to a better platform, modifying the course as needed, and enhancing the service. Despite the noise, the pride of the people who continue to concentrate and work urgently is what matters. In Agrawal’s leaked audio clip talking to employees after the acquisition, he said Mask would soon address their concerns. Once the deal is closed, the team can make other decisions. To get insight into this, we will find a way to get Elon Musk to talk to all of you as soon as possible.
Elon Musk can’t stop tweeting
This is far from the first attempt by Mask to take his turn on Twitter. As Tesla’s CEO, his tweet led to a proceeding from the SEC over a misleading tweet about securing funding to keep Tesla private. In a consent decree, Musk agreed not to tweet about the company without the consent of a lawyer. This is a deal now known as Mask’s “Twitter Sitter,” but he still tweets frequently about Tesla. Mask’s recent tweets are unlikely to have a significant impact on his or Twitter deals, but even signed contracts (and future employee opinions) rock the evil CEO from his favorite platform. It further proves that it cannot be done.