Elon Musk takes over Twitter, fires top executives

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    On the evening of October 27, US time, the Washington Post and CNBC, citing sources, revealed that Mr. Musk had taken over Twitter, a few hours before the deadline to close the deal to buy Twitter worth $ 44 billion.

    According to these sources, directors Agrawal and Segal were at Twitter headquarters in San Francisco when Musk closed the deal and both were escorted out shortly after.

    In addition, a number of senior personnel such as the leader in charge of legal, policy, trust Vijaya Gadde, chief lawyer Sean Edgett will also leave.

    Mr. Agrawal’s fate seems to be clear, as Mr. Musk during the questioning phase of the Twitter acquisition said he had “no confidence” in the social network’s leadership.

    The two have publicly exchanged words several times, and in May 2022, the US billionaire responded to a tweet by Mr. Agrawal with a poop icon.

    Some documents from Musk’s lawsuit to cancel the deal to buy Twitter also show that he and Twitter’s CEO also quarreled over private messages.

    However, Mr. Agrawal will not leave empty-handed. Reuters news agency quoted the Equilar research firm as estimating he will receive about $42 million.

    Musk and Twitter have been embroiled in a legal battle for months after the US billionaire wanted to pull out of a $44 billion deal to buy the social network. By the beginning of October 2022, Mr. Musk “turned the car around”, when he said he would continue the deal at the original price.

    Recently, the Washington Post also reported that billionaire Musk will lay off up to 75% of Twitter’s employees after acquiring this social network. The cuts will take place over the next few months.

    Accordingly, while Twitter’s current management only plans to lay off 25% of employees by the end of next year, the new report says Mr Musk wants to reduce 7,500 people to about 2,000 “core” employees.

    The news comes at a difficult time for Twitter, after the company announced hiring restrictions in July 2022, as the tech industry as a whole faced a financial storm.

    What do you think? Leave a comment below and have a nice day!

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