Twitter will suspend all hiring and backfills beginning this week, ahead of Tesla CEO Elon Musk’s $44 billion acquisition.
FOX Business was assured by a spokesperson for Twitter that the freezing of hiring will not affect business-critical roles. To ensure that it is responsible and efficient, the spokesperson said that Twitter will reduce non-labor spending.
Beykpour has been working at Twitter for more than seven years. He is currently on paternity leaves.
Although he expressed disappointment at the decision, he stated that he was proud of his team’s ability to “change the perception around Twitter’s pace of innovation” as well as “shift the culture internally, to make bigger bets and move faster and eliminate sacred cows.”
He said, “I hope that Twitter’s best days remain ahead of it.” Twitter is one of the most influential, unique, and impactful products on the planet. This impact can only grow with the right care and stewardship.
Falck, who has been working with Twitter for five year, thanked his colleagues for their hard work.
Jay Sullivan will be the general manager at BlueBird as well as interim general manager at Goldbird. He was previously Twitter’s vice-president of consumer products.
Musk’s deal will take Twitter private for $54.20 per share. It is subject to approval by Twitter stockholders, receipt of relevant regulatory approvals, and satisfaction of customary closing condition.
Musk, who is a self-described “free speech absolutist”, expressed interest in open-sourcing Twitter’s algorithm. He also suggested cracking down spam bots to improve transparency and user experience. After the deal is closed, Musk is expected to be Twitter’s temporary chief executive.
Twitter’s monetizable daily user base increased by 15.9% to 229,000,000 in the first quarter 2022. This includes 39.6 Million daily active US users, an increase of 6.4% over the previous year, and 189.4 Million international daily active users, an increase of 18.1%. Social media giant Facebook reported net income of $513million, or 61c per share. This compares to $68 million or 8c per share a year earlier. The quarter’s revenue increased by 16% to $1.2 billion year-over-year.
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