CEO Parag Agarwal recently held a meeting after Elon Musk Buys Twitter on Monday afternoon via video call to simply explain the Twitter board’s decision to sell the company to the Tesla CEO Elon Musk who was absent from the call.
Twitter Inc. Chief Executive officer Parag Agrawal and chairman Bret Taylor told their employee on Monday that the social network will keep operating usually which also includes Aggarwal at the helm until the deal where Elon Musk Buys Twitter for $44 billion.
After Elon Musk Buys Twitter, What Twitter CEO Said On Possible Hiring Freeze
The deal was signed on Monday morning and told by Agarawal to the workers adding that the musk transaction to take the company private will take six months to complete as per the two people who are having the details of meetings. The CEO told the staggers that there will be no job cost and when they asked about the potential hiring freeze Agarwal said that the company is still working on the hiring plans before they close the deal officially.
Agarwal held an all-hand meeting via video call to simply explain the board’s decision to sell out the company to the billionaire Tesla Inc. CEO Musk who is the richest man in the world and planning to buy Twitter for $54.20 per share was absent from the call. Agarwal was mainly joined by Taylor and he is also a salesforce Inc’s co-CEO but no other board was to attend it which also includes the former CEO and Twitter co-founder Jack Dorsey.
The employees of Twitter are living in a state of uncertainty for weeks as Musk announces his offer to acquire the social network platform. Also, Musk is one of the avid users of Twitter and criticized the company from his Twitter account and lots of people dismissed his early efforts to buy the Twitter as a joke but musk secured its finance to complete a deal and prompted the board to consider his offer in a serious manner.
This twist left lots of employees confused and also frustrated over the past few weeks and lots of employees have been opposed vocally to the deal of musk and they are worried about musk’s brash, a combative style which will hurt the company culture and also alienate some of the employees. One employee who talked about Bloomberg estimated that 10% of the Twitter workers will be excited about acquiring the company.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
In an email to the employee on the day, Agarwal notes that the deal is one of the significant changes and you will love to process what this means for you and the future of Twitter and he reiterates during the meeting that the company is going to enter into an uncertainty period.
Must is vocal about his intention to simply make Twitter heaven for the freedom of expression and also having the derided content moderation decision platform. It led to speculation that musk owned the tweet to allow more offensive or dangerous content to proliferate on this website.
On Monday, Agrawal acknowledged that it will be Musk’s choice and said that the company makes the decision for the health of the public conversation on a daily basis as per the one person on the call. When the deal closes he told the workers that he doesn’t know in which direction the platform will go.
Agrawal also reassured the employee that their stock grants will make up a large part of the compensation and they will continue to vest in the meantime. Taylor also spoke at the start of the call and explained the board’s fiduciary duty and he said that the twitter board will no longer exist after the finalization of the deal.