Parag Agarwal: Read Twitter CEO Parag Agarwal’s email on firing employees and hiring freeze

Twitter CEO Parag Agarwal has announced several major shakeups within the company in an email to employees. Includes Firing Consumer Product Leader Kayvan Backpore and head of revenue product Bruce Falk, Twitter is also prohibiting most hiring and spending in most regions. However, the email said it is not planning to take any job cuts. The mail comes just days after Tesla CEO Elon Musk announced the $44 billion acquisition of Twitter. The full mail shared by The Verge is here.
Team,
Creating Twitter and serving our customers around the world is important yesterday, today and tomorrow. Our purpose is existential. During this time of change, it is vital that we continue to strengthen our work through increased accountability and execution to make Twitter everything that it is. The priorities and decisions we make now will strengthen the way we navigate not only through this time, but also for the long-term success of Twitter, which I care deeply about. Some changes are happening with us and some we will drive. Many of these changes are difficult but they hold true for Twitter and its future.
Leadership
It is important to have the right leaders at the right time. Jay Sullivan, currently the interim GM of Bluebird, has shown it mighty. Their product vision, ability to inspire, move quickly and drive change is what Twitter needs now and in the future. So I’ve decided to make Jay the permanent GM of Bluebird. With this change, Kayvan Becpour will be leaving Twitter. Kayvan has been an amazing leader and force on Twitter over the years with the mindset of its founders and a deep passion for service. Under his leadership, our product has grown and grown meaningfully – I know I speak for all of us when I say we are so grateful for the tremendous impact they have had.
Over the past few months, I have gotten very close to the revenue product work and believe that here too, we need a change in leadership. Bruce Falk will leave Twitter and we’ll start looking for Goldbird’s new GM. Bruce joined Twitter at a critical time and has been a strong ally, leader and supporter of the revenue product work and our purpose. Under his leadership we rebuilt our ad server and laid the groundwork for making our advertising business more performance driven. In the interim, the Goldbird organization reports to Jay Sullivan. His leadership will be very meaningful through this transformation.
Please join me in what Kevon and Bruce have done for Twitter.
current environment
At the start of the pandemic in 2020, it was decided to invest aggressively to deliver large growth in audience and revenue, and as a company we did not create intermediate milestones that enable confidence in these goals. Recently, the global macroeconomic environment has become less favorable, the war in Ukraine has affected our outcomes, and may continue to do so. Many other companies are experiencing similar effects. And, of course, we’re in the middle of an acquisition and we don’t know the timing of closure yet. To manage the organization responsibly as we accelerate our roadmap and our work, we need to be intentional about our teams, hiring and cost.
hiring
Effective this week, we are pausing most hiring and backfill, except for business critical roles, as determined by staff members in partnership with their HRBP. We will also review all extended proposals to determine criticality and which should be withdrawn. We are not planning company-wide layoffs, but leaders will continue to make changes in their organizations to improve efficiency as needed. As always, performance management at all levels will remain a priority at this time to ensure we have the strongest teams possible.
Budget
To make sure we are responsible and efficient, we also need to recoup non-labor costs. We are reducing contractor and consulting expenses, travel and events, marketing, our real estate footprint, on-premises and public-cloud-related infrastructure expenses, and other operating costs. Please continue to treat Twitter’s resources as yours, and strictly manage your budget, prioritizing what is most important.
As promised, I will keep in touch with all of you more often and directly as we move forward. Next week, we’ll hold a virtual offsite with our Global Leadership Team (GLT) to further build unity and focus, and strengthen our collective plans to best support you all. We will report to you the results of that meeting.
While we’re in a ton of change right now, historically, Twitter is often. What remains true is our purpose, the importance of Twitter and criticism of our work, and how we come together. Thank you for your leadership, your attention and your support for each other.
parago

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