New Delhi: Twitter Chief Executive Parag Agarwal on Friday sought to assuage employee anger during a company-wide meeting where employees sought answers on how managers plan to handle an anticipated mass exodus inspired by Elon Musk. Made.
Tesla Chief Executive Musk meets after sealing a $44 billion deal to buy the social media company, repeatedly criticizing Twitter’s content moderation practices and a top executive responsible for setting speech and security policies .
At an internal town hall meeting, which was heard by Reuters, executives said the company would monitor employees on a daily basis, but it was too soon to explain how the buyout deal with Musk would affect employee retention.
According to sources familiar with the matter, Musk has pitched the board and lenders on executive pay cuts, but the cost cuts are unclear. A source said Musk would not make a decision on job cuts until he assumed ownership of Twitter.
“I’m tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the high likelihood that many employees won’t have jobs after the deal closes?” A Twitter employee asked Agarwal in a question read aloud during the meeting.
Agarwal replied that Twitter has always cared about its employees and will continue to do so.
“I believe the Twitter organization of the future will continue to care about its impact on the world and its customers,” he said.
Executives said during the meeting that there was no change in employee layoff rates compared to levels before the news of Musk’s interest in buying the company.
In recent days, Musk has tweeted criticizing Twitter’s top lawyer Vijaya Gadde, a Twitter veteran and widely respected in Silicon Valley. Musk’s attack triggered a barrage of online harassment targeting him.
Employees also told executives they fear Musk’s erratic behavior could destabilize Twitter’s business, and damage it financially as the company addresses the advertising world in a presentation in New York City next week. is preparing for.
“Do we have any strategy in the short term on how to control advertisers to attract investment,” one employee asked.
Twitter’s chief customer officer, Sarah Persnet, said the company is working to communicate frequently with advertisers and reassure them that “the way we serve our customers isn’t changing.”
After the meeting, a Twitter employee told Reuters there was little confidence in what officials had to say.
“PR isn’t landing the spec. They told us not to leak and do a job you’re proud of, but there’s no clear incentive for employees to do so,” the employee told Reuters, adding that the non-fiction The reason for the deal is now shadowed, considering compensation for executive employees.
According to research firm Equilar, Agarwal is estimated to receive $42 million if he is terminated within 12 months of the change of control at the social media company.
During the meeting, Agarwal urged employees to anticipate new leadership changes in the future, and acknowledged that the company could have performed better over the years.
He said, “Yes, we could have done things differently and better. I could have done things differently. I think about it a lot.”
Twitter declined further comment.