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  4. Twitter CEO says two leaders to depart, hiring paused amid Musk takeover
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Twitter CEO says two leaders to depart, hiring paused amid Musk takeover

By Sheila Dang (Reuters) -Two senior Twitter (NYSE:TWTR) leaders who oversee the consumer and revenue divisions will depart the social media company, chief executive Parag Agrawal...
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By Sheila Dang

(Reuters) -Two senior Twitter (NYSE:TWTR) leaders who oversee the consumer and revenue divisions will depart the social media company, chief executive Parag Agrawal told employees in a memo on Thursday, in one of the biggest shake-ups at the firm since billionaire Elon Musk announced he would buy Twitter for $44 billion.

Agrawal also said in the memo, which was seen by Reuters, that Twitter would pause most hiring and would review all existing job offers to determine whether any "should be pulled back."

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 tweeted.

In his note to staff, Agrawal said 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.

The company was targeting $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.

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 (NASDAQ:GOOGL) it," he said.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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