Elon Musk offers creditors to reduce the salaries of the board and CEOs. (FILE)
Twitter CEO Parag Agraval tried to quell employees’ anger on Friday during a company-wide meeting that asked officials for answers on how managers plan to deal with the expected mass eviction caused by Elon Musk.
The meeting comes after Musk, Tesla’s chief executive, who struck a $ 44 billion deal to buy the social media company, repeatedly criticized Twitter’s practices for moderating content and the chief executive responsible for setting speech and language policies. safety.
At a news conference with Reuters, officials said the company would monitor staff depletion on a daily basis, but it was too early to say how the buyout deal with Musk would affect staff retention.
Musk has suggested creditors reduce the salaries of board and CEOs, but the exact cost cuts remain unclear, according to sources familiar with the matter. One source said Musk would not decide on job cuts until he took ownership of Twitter.
“I’m tired of hearing about shareholder value and fiduciary debt. What are your honest thoughts about the very high probability that many employees will not be employed after the transaction is completed? ”A Twitter employee asked Agrawal in a question read aloud during the meeting.
Agraval replied that Twitter has always cared for its employees and will continue to do so.
“I believe that the future organization on Twitter will continue to care about its impact on the world and its customers,” he said.
Executives said during the meeting that the dropout rate had not changed from levels before news of Musk’s interest in buying the company.
In recent days, Musk has posted on Twitter criticism of Twitter’s lead lawyer, Vijaya Gade, a Twitter veteran and widely respected in Silicon Valley. Musk’s attack sparked a series of online harassment against her.
Officials also told executives that they feared that Musk’s chaotic behavior could destabilize Twitter’s business and damage it financially as the company prepares to address the advertising world in a presentation next week in New York.
“Do we have a short-term strategy on how to deal with advertisers who attract investment?” An employee asked.
Sarah Personet, Twitter’s chief customer officer, said the company works to communicate frequently with advertisers and assure them that “the way we serve our customers doesn’t change.”
After the meeting, a Twitter employee told Reuters that he had little confidence in what executives had to say.
“We are not talking about public relations. We have been told not to run out and do work that you are proud of, but there is no clear incentive for employees to do so, “the employee told Reuters, noting that compensation for non-executive employees is now limited due to the deal.
Agraval is estimated to receive $ 42 million if terminated within 12 months of a change in control of the social media company, according to research firm Equilar.
During the meeting, Agrawal called on employees to expect change in the future under new leadership and acknowledged that the company could perform better over the years.
“Yes, we could have made things different and better. I could have done things differently. I think about it a lot, “he said.
Twitter declined to comment further.
(Except for the title, this story was not edited by NDTV staff and was published by a syndicated channel.)
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