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Elon Musk fired several Twitter Inc. executives after completing his takeover of the company, according to people familiar with the matter, capping an unusual corporate battle and setting up one of the world’s most influential social-media platforms for potentially broad change. Mr. Musk fired Chief Executive Parag Agrawal and Chief Financial Officer Ned Segal after the deal closed, the people said. Mr. Musk also fired Vijaya Gadde, Twitter’s top legal and policy executive, and Sean Edgett, general counsel. Spokespeople for Twitter didn’t comment.
Elon Musk fired at least four top Twitter executives after becoming the platform's new owner. The execs include CEO Parag Agrawal, COO Ned Segal, legal and policy head Vijaya Gadde, and general counsel Sean Edgett. The executives fired include CEO Parag Agrawal, chief financial officer Ned Segal, top legal and policy executive Vijaya Gadde, and general counsel Sean Edgett. At least one of the fired executives was seen escorted out of Twitter's San Francisco headquarters, per the sources. The same evening, Musk also ousted CEO Parag Agrawal and CFO Ned Segal, sources previously told Insider.
Donald Trump said the app is now "in sane hands" with the tech billionaire at its helm. "I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country," Trump wrote on Truth Social. Twitter permanently suspended Trump from its website two days after the Capitol attack on January 6, 2021, citing the "risk of further incitement of violence." Twitter and Musk formally closed on the billionaire's $44 billion acquisition offer to take the company private on Thursday. Immediately after purchasing the app, Musk ousted some of Twitter's top executives including CEO Parag Agrawal, Chief legal officer Vijaya Gadde, and general counsel Sean Edgett, Insider previously reported.
Donald Trump said the app is now "in sane hands" with the tech billionaire at its helm. "I am very happy that Twitter is now in sane hands, and will no longer be run by Radical Left Lunatics and Maniacs that truly hate our country," Trump wrote on Truth Social. Twitter permanently suspended Trump from its website two days after the Capitol attack on January 6, 2021, citing the "risk of further incitement of violence." Twitter and Musk formally closed on the billionaire's $44 billion acquisition offer to take the company private on Thursday. Immediately after purchasing the app, Musk ousted some of Twitter's top executives including CEO Parag Agrawal, Chief legal officer Vijaya Gadde, and general counsel Sean Edgett, Insider previously reported.
Twitter employees have expressed fear about their jobs after Elon Musk sealed his takeover deal. Musk has reportedly sacked CEO Parag Agrawal and three other top Twitter executives. The billionaire, who's the world's richest person, has fired at least four top executives including CEO Parag Agrawal, Insider and others reported Thursday. It was during this hour-long coffee meeting with about 40 Twitter employees that Musk denied the 75% layoffs figure, according to Bloomberg. Other Twitter employees used the #OneTeam hashtag to express solidarity.
Vijaya Gadde, a top Twitter legal and policy executive, was fired by Elon Musk on Thursday. In May, Musk said he would let Trump back on Twitter, calling the decision to ban him "morally bad." The other executives Musk fired on Thursday include Twitter's CEO, Parag Agrawal, chief financial officer Ned Segal, and general counsel Sean Edgett. It's unclear if Musk fired Gadde because of her role in the decision to ban Trump. Musk said in May that he would reverse Twitter's Trump ban, saying that booting Trump off Twitter was a "morally bad decision" and "foolish in the extreme."
New York CNN Business —Elon Musk has completed his $44 billion acquisition of Twitter, the company confirmed in a securities filing Friday, putting the world’s richest man in charge of one of the world’s most influential social media platforms. The confirmation comes after a source familiar with the deal told CNN the deal had closed Thursday night. But Musk’s takeover now raises a host of new questions for the future of the social media platform, and the many corners of society impacted by it. Despite multiple news outlets confirming the changes Thursday night, Twitter staff had still not formally been informed of the changes as of Friday morning, two Twitter employees told CNN. Now he controls a social media platform that shapes how hundreds of millions of people communicate and get their news.
New York CNN Business —Elon Musk plans to visit Twitter’s San Francisco office this week ahead of the expected close of his deal to buy the company, Twitter Chief Marketing Officer Leslie Berland told staff in an email Wednesday. For everyone else, this is just the beginning of many meetings and conversations with Elon.”Berland added that all Twitter (TWTR) employees will hear directly from Musk on Friday. Musk on Wednesday also changed his Twitter bio to “Chief Twit.”Musk is likely to face many questions from nervous employees when he addresses Twitter’s staff. The Washington Post last week reported that Musk told prospective investors in the deal that he planned to cut nearly 75% of the company’s staff, and that Twitter had already planned massive layoffs even if the deal did not go through. Musk had previously discussed dramatically reducing Twitter’s workforce in text messages with friends about the deal, which were revealed in court filings, and didn’t dismiss the potential for layoffs in a call with Twitter employees in June.
New York CNN Business —The clock is ticking for Elon Musk to complete his deal to buy Twitter. ET on Friday to close his $44 billion acquisition of Twitter or face a trial that was previously delayed to allow both parties to close the deal. Musk in April agreed to buy Twitter (TWTR) for $54.20 per outstanding share and then, weeks later, sought to terminate the deal. Bloomberg last week reported that the company had frozen employees’ stock accounts in anticipation of the deal’s closing, and that lawyers for both Musk and Twitter were preparing paperwork to close the deal. Musk, meanwhile, told Tesla shareholders that he was “excited” about Twitter even as he admitted to “obviously overpaying” for it.
SAN FRANCISCO — Twitter is telling employees not to believe “rumors” that nearly 75% of them could lose their jobs if Elon Musk eventually takes over the company's owner. “Please know, as we get closer to deal close, there will continue to be tons of public rumors and speculation,” Edgett wrote. There have been no plans for company-wide layoffs since then, he said. A Twitter spokesperson confirmed that the content of the email is accurate. It’s unclear when Musk’s purchase of Twitter might be finalized.
Twitter has told staff that the company has no plans for company-wide layoffs, per Reuters. On Thursday, The Washington Post reported that Elon Musk planned to cut Twitter's headcount by nearly 75%. Sean Edgett, Twitter's general counsel, emailed Twitter's staff on Thursday telling them the company did not plan for layoffs, a source who viewed the email told Reuters. On Thursday, The Washington Post reported that Elon Musk told prospective investors he would lay off almost 75% of Twitter's workforce. The reported job cuts would have slashed Twitter's 7,500-person workforce down to a staff of around 2,000, per The Post.
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