Twitter CEO promises no layoffs, for now
Twitter CEO Parag Agrawal discussed Elon Musk’s takeover on an All Hands call.
Why You Should Care
Elon Musk is finalizing a deal to takeover Twitter.
However, employees have expressed concerns.
Discover what the future holds for Twitter's workforce.
Billionaire Elon Musk’s takeover of Twitter has been a bumpy journey.
Earlier in April, Musk revealed the details of a deal with social media giant Twitter where he bought 9.2% of the company and would join the company’s board.
As a result, workers began to criticize Twitter’s decision; they noted Musk’s controversial comments on the platform.
Many employees felt that Musk’s inclusion on the board would present a double standard, particularly when it came to what employees can share without the risk of being fired, and what the billionaire regularly posts on Twitter. For undisclosed reasons, Musk then decided to not become a member of Twitter’s board.
Fast forward to the end of April, and Musk is now finalizing a $44 billion deal to buy Twitter.
Questions now linger about what this means for Twitter’s workforce in general, and particularly those employees who were opposed to Musk’s initial 9.2% stake in the company.
The future for Twitter employees
Discussing the takeover in an All Hands meeting, Twitter CEO Parag Agrawal reportedly acknowledged that the company was experiencing a “period of uncertainty”.
However, Agrawal did reassure staff that no lay-offs were planned “at this time.”
Probed about the return of controversial Twitter users like former President Donald Trump, Agrawal also commented that the company will have a better idea of its direction once the deal is finalized.
One direct impact on work may come from Musk’s vocal campaigns against remote-working.
CNN reported that when asked about remote work at Twitter, Agrawal said: “Between now and closing [the deal] … we will continue making decisions as we’ve always had, guided by the principles we’ve had.”
Looking ahead, staff have been told to expect change alongside Musk’s involvement. Former Tesla board member Steve Westly warned Twitter about the pace of work that will come with Musk’s involvement when he spoke to Bloomberg: “My advice to Twitter executives is put on your track shoes now because Elon is going to push you to pick up the pace.
“Here we are day one into this and he’s already saying ‘Hey, maybe it’s time to get that edit function in there.’ I think he’s going to shake things up.”
Naturally, shake-ups can lead to staff leaving, and Twitter employees will have a lot to consider when assessing their future.
Principles could be a key factor in the retention of staff at Twitter. After all, a company’s ethics are increasingly important to staff, and some may want to distance themselves from Musk’s vocal support for military coups.
Of course, some staff will welcome the changes introduced by Musk, and it is unclear what the turnover in the company will be.
Like any investment, we will have to wait and see to truly understand its impact.
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Senior Journalist
Dan combines his first-hand experience alongside the latest news and opinions in the HR Technology space.
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