Twitter is leaving execs with reduced hiring and cutting costs

A masked man visited the New York Twitter office in Manhattan, New York, USA, in response to updated CDC guidelines on the outbreak of coronavirus (COVID-19) in Manhattan. , July 29, 2021.

Andrew Kelly | Reuters

Twitter is taking a break from most hiring and two executives are leaving, a spokesman confirmed on Thursday.

The news comes as billionaire Elon Musk seeks to complete his 44 44 billion deal to buy the company and take it private. Musk told banks to raise money for the deal, saying he would reduce the salaries of executives and boards and pressure the company to cut other costs, Reuters reported earlier.

However, shares of Twitter are also trading at more than $ 8 per share below Elon’s purchase price, indicating that there may be some skepticism among investors that the deal will close.

Bruce Falk, head of consumer Kayvan Bekpur and head of revenue products, is leaving the company, the spokesman confirmed. Reuters had earlier reported that CEO Parag Agarwal had given the news in an email to staff.

In a series Tweet On Thursday, Bekpur said that his decision to leave Twitter was not his. He shared the news of her departure while on paternity leave, he said.

“Pollen told me to leave after he found out he wanted to take the team the other way,” he wrote.

Blade Tweet On Thursday he thanked the teams he worked with on Twitter, but did not directly address the situation surrounding his departure.

Twitter said it would return to non-labor costs and that Jay Sullivan would take over as Bluebird’s general manager, consumer team and Goldbird’s interim general manager, revenue team.

See: Musk says he will lift Trump’s Twitter ban if he joins

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