Twitter CEO Says Two Leaders Are Leaving, Hiring Suspended Amid Musk Acquisition

May 12 (Reuters) – Two senior Twitter users (TWTR.N) Leaders overseeing the consumer and revenue divisions will leave the social media company, CEO Barack Agarwal told employees in a note on Thursday, one of the biggest shakes in the company since billionaire Elon Musk announced his acquisition for $ 44. Billion.

In a memo seen by Reuters, Agarwal said that Twitter would suspend most of the hiring and would review all existing jobs and decide if there should be any “retreat”.

He cited this decision in part because Twitter has not been able to hit user growth and revenue milestones to maintain confidence that it will be able to achieve the aggressive growth goals it has set for 2020.

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“We have to be consistent about our teams, hiring and spending,” Agarwal wrote.

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

Keiwon Peikpur, who led Twitter’s consumer division, and Bruce Polk, who oversees revenue, both tweeted on Thursday that leaving was not their decision.

“Barack told me to leave after he let me know he wanted to take the team in a different direction,” Baikpur tweeted, adding that he was still on paternity leave from Twitter.

“I make it clear that he (Barak) deleted me too,” Falk said, although he did delete the tweet.

Falk thanked his team in a series of tweets and updated his bio as “unemployed.”

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“Thanks to your hard work we were able to achieve the results we made – quarterly earnings are not a lie. Google do it,” he said.

Jay Sullivan, who headed the consumer division during the Paikpur vacation, will be the permanent head of the division. Agarwal said in a statement that he would also oversee the revenue committee until a new chairman is appointed.

Agarwal said that although no layoffs were planned, Twitter would reduce its costs for contractors, travel and marketing and its real estate footprint.

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Sheila Tank’s report in Dallas; Additional report by Katie Paul Editing by Sisu Nomiyama, Will Dunham, Nick Jiminsky and Bernard Orr

Our standards: Thomson Reuters Trust Principles.

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