Elon Musk kicks off on Twitter firing CEO, CFO and more
Elon Musk claimed that he would not fire 75% of the workforce at Twitter as some reports have pointed out. The executives have been the first to leave.
Elon Musk officially owns Twitter, which joins that company to the list that includes Tesla, Space X, among others. This means that the businessman now not only has one foot in the future of space, the automotive industry, and even humanoid robots, but now he will have control of one of the most used social networks globally. As his first act – after walking into the offices with a kitchen sink (just to make a not-so-good joke) – he’s fired CEO Parag Agrawal and CFO Ned Segal.
Apparently, the act was not friendly at all, since according to a Reuters report, both executives were in the building when the dismissal took place and were accompanied by security elements. This is not surprising considering the fights between Musk and the executives during the purchase process, which had to be defined despite the fact that the businessman had withdrawn his offer from him since Twitter filed a lawsuit against him. Vijaya Gadde, the company’s chief policy officer – who was also the focus of Musk’s criticism – was also fired, as were Sean Edgett, general counsel, and Sarah Personette, director of the customer service.
Despite the dramatic exit, the executives received massive checks for their dismissal. According to Insider data, Agrawal received $38.7 million; Segal 25.4 million, Gadde 12.5 million and Personette 11.2 million.
And who’s next?
Previous reports indicated that Elon Musk planned to lay off 75% of Twitter‘s workforce, which would have been quite a violent move (representing almost 7,500 employees). However, recently the man pointed out that he would not let so many people go, although he pointed out that he did not know why he should keep poor performers. And, according to data from The Post, the previous leaders were thinking of a 25% reduction.
Little is known about how Twitter will move forward under the leadership of Musk, who has indicated that he wants to reduce moderation rules ( which he highlighted in a message to advertisers ), in addition to mentioning that he will seek to make changes to the platform so that his algorithm can better understand its users.