Twitter CEO Parag Agrawal fires two senior executives, freezes hiring amid Elon Musk takeover

Apart from firing two senior employees, Twitter also said that it is reducing spending on contractor and consulting, travel and events, marketing, real estate footprint, and other operational costs.

Twitter CEO Parag Agrawal fires two senior executives, freezes hiring amid Elon Musk takeover
Reuters Image

San Francisco | Jagran Technology News: In one of the biggest shake-ups at Twitter since its USD 44 billion acquisition announcement by billionaire Elon Musk, Twitter CEO Parag Agrawal has announced the firing of two senior executives - consumer product leader Kayvon Beykpour and head of revenue product Bruce Falck - and said that there would be a pause on most hiring.

In a memo sent to employees, Agrawal also said that Twitter would review all existing job offers to determine whether any "should be pulled back".

Agrawal said the decision was made in part because Twitter was not able to hit user growth and revenue milestones to maintain confidence that it could reach aggressive growth targets it had set in 2020.

"We need to continue to be intentional about our teams, hiring and costs," Agrawal wrote.

"It's critical to have the right leaders at the right time. Jay Sullivan, currently interim GM of Bluebird, has shown this powerfully. I have, therefore, decided to make Jay the permanent GM of Bluebird," Agrawal said.

The company was targeting USD 7.5 billion in annual revenue and 315 million daily users by the end of 2023, but withdrew those goals in its recent earnings report.

Kayvon Beykpour, who led Twitter's consumer division, and Bruce Falck, who oversaw revenue, both tweeted on Thursday that the departures were not their decisions.

"Parag asked me to leave after letting me know that he wants to take the team in a different direction," Beykpour tweeted, adding he was still on paternity leave from Twitter.

"I'll clarify that I too was fired by (Parag)," Falck said, though he appeared to later delete the tweet.

Falck thanked his team in a tweet thread and updated his bio to say "unemployed."

"We were able to achieve the results we did through your hard work - quarterly revenue does not lie. Google it," he said.

Jay Sullivan, who was leading the consumer unit during Beykpour's leave, will become the permanent head of the division. He will also oversee the revenue team until a new leader is named, Agrawal said in the memo.

While no layoffs are planned, Agrawal said Twitter will reduce its spending on contractors, travel and marketing as well as its real estate footprint.

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