DIRS.INFO The most relevant business & tech news

☆ I'm still at Twitter and have a front-row seat watching everything fall apart. At this point, I'm just trying to collect a paycheck.
▼ + stars: | 2022-11-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +7 min

From the week leading up to Elon Musk's acquisition to the lay-offs week and this week gone, it's been a very weird and tiring time. It happened to be the same day that the Twitter offices were holding big Halloween events and had it decorated. Remote work was a big cultural hitA lot of people work remotely full-time or for at least two days a week. I'm sitting around and just collecting my paycheckI'm now interviewing around and trying to find something with big players. The Twitter that we had as an employer is gone and it won't be a fun place to work.

☆ Elon Musk failed to give laid-off Twitter employees previously promised severance packages, lawsuit alleges
▼ + stars: | 2022-11-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Laid-off Twitter employees are suing the company saying they were promised a range of severance benefits. The lawsuit says they were assured these benefits would hold after Elon Musk bought Twitter. However, recently laid-off employees say Twitter reneged on the promised severance pay. Twitter employees "reasonably relied" on this promise in the weeks leading up to Musk's purchase and chose not to look for jobs elsewhere, the lawsuit shows. This claim appears to contrast a November 4 tweet from Musk, which said that all exited employees were offered three months' severance.

☆ Who would want to join Twitter now? It's still hiring for more than 90 roles despite cutting thousands of jobs
▼ + stars: | 2022-11-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Twitter is still hiring to fill more than 90 roles despite laying off half of its workforce. Seven roles were posted on LinkedIn's jobs section a few days before Elon Musk took over Twitter. Seven roles were first advertised by Twitter a fortnight ago on LinkedIn, all of which are based in London. The Tesla founder took control over Twitter last week after his $44 billion deal to buy the platform was completed. Some Twitter staff have disputed that claim.

☆ Elon Musk ruthlessly fired Twitter CEO Parag Agrawal. He's the latest in a long line of Silicon Valley giants to face Musk's wrath, from Jeff Bezos to Mark Zuckerberg.
▼ + stars: | 2022-11-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Parag AgrawalKevin Dietsch/Getty ImagesMusk and Twitter CEO Parag Agrawal met for a meal in March. But eight months later, Musk took ownership of Twitter and one of his first moves was firing Agrawal and a number of other top execs. Musk had been set to join Twitter's board in the spring after becoming the company's biggest shareholder. Agrawal understandably didn't like the tweet and told Musk that "it's not helping me make Twitter better in the current context." Within days of Musk terminating the deal, Twitter sued him to force him to complete the deal, accusing him of "refusing to honor his obligations."

☆ Factbox: Twitter 2.0: Musk warns of bankruptcy, flip-flops on blue check mark in chaotic start
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration/File PhotoNov 18 (Reuters) - Twitter has had a bumpy ride since new owner Elon Musk took charge last month. Twitter has also cut staff by half, while Musk has raised the possibility of the social media platform going bankrupt. read more read more* ROLLS OUT $8 SERVICETwitter on Nov. 5 launches an $8 subscription service that gives the user a verified blue check mark and other features. read more* WARNS OF BANKRUPTCYOn his first mass call with employees, Musk raised the possibility of the social media platform going bankrupt, Bloomberg News reported. read more* RELAUNCH $8 SERVICE ON NOV. 29On Nov. 15, Musk said the sought-after blue check subscription service will be relaunched on Nov. 29, a minor delay from his initial tentative timeline.

Elon Musk is shaking up Twitter. From the blunt email to Twitter employees about layoffs to angry advertisers, a lot is happening. Insider has exclusive insights from employees, advertisers and others about working with Musk. And this kind of chaos is only the beginning, warns one former SpaceX VP who says Elon Musk can be 'vicious' in the workplace. Rebecca Blackwell/AP PhotoAdvertisers are nervously pausing their spendMusk has been wooing advertisers, his major Twitter customers, but they are wary.

☆ Elon Musk can be 'vicious' in the workplace, a former SpaceX VP says
▼ + stars: | 2022-11-04 | by ( Grace Dean | Kiera Fields | ) www.businessinsider.com time to read: +3 min

A former SpaceX VP says Elon Musk can be "vicious" in the workplace. Jim Cantrell told Insider staff never knew whether there were getting "good Elon" or "bad Elon." He added Musk could change Twitter's business performance "from sheer force of willpower." Musk added Twitter to his portfolio in late October, acquiring the social-media platform for $44 billion. One workplace-culture expert previously told Insider that Musk's "autocratic leadership" would be in "great contrast with the type of openness and flexible mindset that is integral to Twitter's culture."

☆ We asked top business school professors to analyze Elon Musk's first week running Twitter: 'A case study of failed leadership.'
▼ + stars: | 2022-11-04 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +5 min

Elon Musk's acquisition and management of Twitter is a business school case study for the ages. Insider asked leading business school professors for their views on his first week. One said he was a failed leader and should stick to innovation, another said Musk was right to clear house. 'Not right for leadership or management'Musk's approach to management is "a case study of failed leadership," as William Klepper, a management professor who teaches an executive leadership course at Columbia Business School, would define it. For Klepper, Musk's autocratic style leaves no room for constructive criticism.

☆ Fact Check-Video does not show Elon Musk firing Twitter exec on live radio show
▼ + stars: | 2022-11-03 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A widely shared video appears to capture Elon Musk firing former legal affairs and policy chief Vijaya Gadde during a live radio show. One post reads, in part, “Elon Musk fires Twitter's Chief Legal Officer and Policy Chief Vijaya Gadde ON AIR!” (here). Reuters reported on Friday that Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter (here). Reuters was unable to identify the exact origin of the following phrase attributed to Musk in the parody video: "Failure comes with a big penalty, you're fired." Elon Musk did not fire a Twitter executive during a live radio show.

Chief People and Diversity Officer Dalana Brand announced on Tuesday in a LinkedIn post that she had resigned last week as well. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night. Multiple employees who spoke with Reuters said they continue to receive little communication about the future of the company. An all-staff meeting that was scheduled for Wednesday was canceled, following the cancellation by Twitter of a check-in call last week. Use of the n-word has increased by nearly 500% on Twitter, said the Network Contagion Research Institute, which identifies "cyber-social threats."

☆ Twitter’s C-suite clears out as Musk cements power over the company
▼ + stars: | 2022-11-02 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

In less than a week since Musk acquired Twitter, the company’s C-suite appears to have almost entirely cleared out, through a mix of firings and resignations. Musk has also dissolved Twitter’s former board of directors. At the same time, Musk is also running several other companies, including as CEO of Tesla and SpaceX. Musk immediately fired four of Twitter’s top executives — CEO Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett and Policy Head Vijaya Gadde. It’s unclear whether VP of Operations Lindsey Iannucci, the other two members of Twitter’s top leadership team, will remain with the company.

Personette, who was chief customer officer, follows executives including former Twitter Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal, whom Musk fired last week. Chief People and Diversity Officer Dalana Brand announced on Tuesday in a LinkedIn post that she had resigned last week as well. General manager for core technologies Nick Caldwell confirmed his departure on Twitter, changing his profile bio to "former Twitter exec" by Monday night. Jason Calacanis, an angel investor and Musk confidant working on Twitter, on Monday said Twitter was having "a very productive day" meeting with marketers and advertisers. Experts have said hateful content has skyrocketed since Musk closed his acquisition of Twitter last week.

☆ Twitter ad sales chief Personette says in tweet she quit the company
▼ + stars: | 2022-11-01 | by ( Sheila Dang | ) www.reuters.com time to read: 1 min

Nov 1 (Reuters) - Twitter's advertising chief Sarah Personette tweeted on Tuesday that she had resigned her post last week, adding further uncertainty for advertisers wondering how the social media company will change under Elon Musk. Personette, who was chief customer officer, follows other executives out the door, including former Twitter Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal, whom Musk fired last week. read morePersonette did not immediately respond to request for comment. Reporting by Sheila Dang in Dallas; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ One of Twitter's top execs quit the day after tweeting that she had a 'great discussion' with Elon Musk about the company's future
▼ + stars: | 2022-11-01 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Twitter's CCO said she quit her job just hours after Elon Musk completed his $44 billion takeover. On Thursday, Personette tweeted that she'd had a "great discussion" with Musk. "Remember that we create the organization we want to be a part of," Personette tweeted. Personette tweeted on Thursday, just hours before the deal went through, that she'd had a "great discussion" with Musk the prior evening. Personette resigned the day after posting the tweet.

☆ Twitter to lay off 25% of workforce in first round of job cuts - Washington Post
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +1 min

Celebrity lawyer Alex Spiro, a long-time Musk legal representative, led the conversations about the job cuts, according to the report. Twitter had over 7,000 employees at the end of 2021, according to a regulatory filing and a quarter of the headcount amounts to nearly 2,000 employees. Musk denied a New York Times report about laying off Twitter employees at a date earlier than Nov. 1 to avoid stock grants due on the day. Musk fired Twitter Chief Executive Parag Agrawal, Finance Chief Ned Segal and Legal Affairs and Policy Chief Vijaya Gadde on completion of a six-month $44 billion buyout saga of the social media platform on Thursday, sources told Reuters. Reporting by Akash Sriram in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk spent the weekend creating plans with his inner circle to lay off 25% of Twitter's staff, report says
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Elon Musk plans to lay off around a quarter of Twitter's staff, The Washington Post reported. His team, led by Alex Spiro, and remaining Twitter senior execs spent the weekend crafting plans, per The Post. Musk's team also assigned some of Twitter's engineers projects to work on over the weekend. Insider reported that there was a sense among workers that some of their recent tasks were a test by Musk's team to see who works hard. A person familiar with the deal told The Post that Musk is more likely to lay off around half of Twitter's staff.

☆ Elon Musk has dissolved Twitter's 9-person board of directors and become its sole director
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +2 min

Elon Musk has scrapped Twitter's board of directors. Musk had himself tried to join Twitter's board in the spring before clashing with then-CEO Parag Agrawal. When first outlining his plans for his ownership of Twitter, Musk said he would need to take the company private to make his desired changes. The same evening, Musk also ousted CFO Ned Segal, chief legal officer Vijaya Gadde, and general counsel Sean Edgett, sources told Insider. Musk had himself been set to join Twitter's board before he offered to buy the company, but u-turned after clashing with Agrawal over text.

☆ Elon Musk denied reports that he's speeding up Twitter layoffs to avoid paying out hefty stock grants to workers
▼ + stars: | 2022-10-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Elon Musk said reports he's speeding up layoffs to avoid paying out stock grants are false. Musk is set to lay off workers before Tuesday, when they're scheduled to receive stock grants, per the NYT. Media reports suggest that Musk may also avoid giving fired execs their expected multi-million-dollar payouts. The Times reported that Musk could therefore avoid paying the grants. The Information reported that the "for cause" terminations were an attempt to avoid paying out severance pay and unvested stock awards.

☆ Elon Musk's biographer, who was shadowing him, 'wouldn't be surprised' to see future lawsuits following 'contentious' conversations on the night the Twitter deal closed
▼ + stars: | 2022-10-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Walter Isaacson said he "would not be surprised" if Elon Musk faced more lawsuits over Twitter. The biographer said the day the deal closed it was "quite contentious" in Twitter's headquarters. The biographer shadowed Musk over the past week as the billionaire followed through with his plans to buy Twitter. Within moments of taking over Twitter, Musk fired four top executives at the company, including former Twitter CEO Parag Agrawal and CFO Ned Segal. "It's not as if the Twitter executives are bringing down bottles of champagne, and it became through the evening quite contentious."

☆ Musk denies reports he is firing Twitter employees in attempt to avoid payouts
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

In a response to a Twitter user asking about the layoffs, Musk tweeted: "This is false." Citing unidentified people familiar with the matter, the Times reported the cuts could begin as soon as Saturday. According to media reports on Saturday, Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday. In a tweet on Saturday LightShed analyst Rich Greenfield said Musk fired top Twitter execs "for cause," preventing their unvested stock from vesting as part of a change of control. Reuters wasn't immediately able to contact the fired executives.

☆ Musk fired Twitter execs in attempt to avoid payouts, layoffs planned - reports
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +2 min

Oct 29 (Reuters) - Twitter's (TWTR.N) new owner Elon Musk fired top executives in an effort to avoid hefty severance payouts, while lining up other layoffs as soon as Saturday to avoid stock grants due on Nov. 1, according to media reports on Saturday. He had accused them of misleading him and Twitter investors over the number of fake accounts on the platform. In a tweet on Saturday LightShed analyst Rich Greenfield said Musk fired top Twitter execs "for cause," preventing their unvested stock from vesting as part of a change of control. Reuters wasn't immediately able to make contact with the fired executives. Citing unidentified people familiar with the matter, the Times reported the cuts could begin as soon as Saturday.

☆ As Elon Musk finalized his Twitter deal, company founder Jack Dorsey launched a beta for his new social media company
▼ + stars: | 2022-10-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Jack Dorsey's decentralized social media platform, Bluesky Social, is accepting beta users. The news coincides with Elon Musk's takeover of Twitter, which Dorsey founded and ran for several years. Dorsey left Twitter in 2021 and named Parag Agrawal as his successor, whom Musk fired shortly after taking over this week. Dorsey's blockchain-based Bluesky Social announced last Tuesday that it's launching soon and is currently enlisting users for beta testing. Dorsey had said in 2019 that Twitter was funding work into developing "an open and decentralized standard for social media."

☆ Elon Musk fired Twitter execs including CEO Parag Agrawal 'for cause' in a bid to avoid paying out tens of millions in severance, report says
▼ + stars: | 2022-10-30 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Elon Musk fired top Twitter execs "for cause" to avoid severance payments, The Information reported. He fired CEO Parag Agrawal and three other executives on Thursday as he completed his takeover. The execs are in line to receive up to $122 million in payouts, researchers Equilar told Reuters. Musk removed Twitter CEO Parag Agrawal, chief financial officer Ned Segal, legal chief Vijaya Gadde, and general counsel Sean Edgett on Thursday after closing his $44 billion deal. His relationship with Agrawal in particular quickly soured, with the pair trading blows on Twitter and over text messages.

☆ Elon Musk says he has 'no idea who the CEO' of Twitter is after being sent an auto-email telling him 'it's time to start managing'
▼ + stars: | 2022-10-30 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

He was sent an email from the company telling him to start a "managing @Twitter 101" training course. Musk tweeted that he has idea who the CEO is yet, despite calling himself "Chief Twit." Elon Musk was sent an email from Twitter telling him "it's time to start managing @Twitter 101," in reference to a training course about "what it means to be a good manager at Twitter." Musk tweeted on Sunday: "Just received this email from Twitter. Musk responded: "My title is Chief Twit right there in the bio.

☆ Elon Musk manages free speech versus 'hellscape' at Twitter
▼ + stars: | 2022-10-29 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The pressure is mounting on Musk and Twitter as he is set to address the Twitter staff on Friday after closing the deal. Fewer than 10% of 266 Twitter employees who participated in a poll on messaging app Blind expected to still have their jobs in three months. Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde, according to people familiar with the matter. Twitter, Musk and the executives did not immediately respond to requests for comment. As news of the deal spread, some Twitter users were quick to flag their willingness to walk away.

Search resuls for: "Ned Segal"

25 mentions found