100s of titles, one news app for just $10 a month.
Dive Deeper:
Get all your news in one place
Latest Business news:
Asian stocks up after Wall Street dip on China's Covid-bruised data
Hong Kong (AFP) - Asian stocks rose Tuesday despite a lukewarm lead from Wall Street after weak Chinese economic data…
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Musk: Twitter deal at lower price "not out of the question"
Musk has continued to express skepticism about the company's estimate of spam and fake accounts.
Netflix toys with live TV as sales slump
Would pouring more money into original content do anything to help Netflix's profits?
Michael 'Big Short' Burry Shorts Apple
Hedge fund investor Michael Burry bets against Apple.
Once a powerful symbol in Russia, McDonald's withdraws
Two months after the Berlin Wall fell, another powerful symbol opened its doors in the middle of Moscow: a gleaming…
From analysis to good news, read the world’s best news in one place
U.S. backs U.N. push to get Ukraine grain back to global market
The United States supports efforts by U.N. Secretary-General Antonio Guterres to get Ukrainian grain back into the international marketplace amid…
ASX rises despite economic worries, Wall Street struggles on recession risk
Mining and energy companies propped up the Australian share market on Tuesday, though worries about a global economic slowdown and…

Expect more change for the better: Twitter CEO Parag Agrawal after firing top executives

By Livemint
Parag Agrawal said on Friday that he had announced leadership changes and a hiring freeze in order to 'build a stronger Twitter (AP)

Twitter Chief Executive Parag Agrawal said on Friday that he had announced leadership changes and a hiring freeze in order to "build a stronger Twitter," even as the company is being acquired by billionaire Elon Musk.

Parag Agrawal also expressed his observations a day after two of Twitter's top executive were fired by the CEO. He said that the deal with Elon Musk is expected to be closed, however, the deal does not become an excuse to avoid making important decisions for the health of the company, adding that Twitter needs to be prepared for all scenarios and always do what's right for it.

Agrawal said that though some have been asking why a "lame-duck" CEO would make these changes if Twitter is getting acquired anyway. In a response to these comments, the CEO said that while he expects the deal to close, Twitter needs to be prepared for all scenarios and always do what's right for it.

"We announced changes to our leadership team and operations yesterday. Changes impacting people are always hard," the CEO tweeted adding, "I won't use the deal as an excuse to avoid making important decisions for the health of the company, nor will any leader at Twitter."

He said that he is accountable for leading and operating Twitter. The CEO also noted that it is their job to build a stronger Twitter every day.

Agrawal continued in another tweet that regardless of the company's future ownership, Twitter will be improved as a product and business for customers, partners, shareholders, and all of the users.

"No one at Twitter is working just to keep the lights on. We take pride in our work," the CEO wrote in a tweet. He said that he is still focused on doing his job, and that includes making hard decisions as needed.

"I will continue to embrace the deep complexities of our service and our business. And you can expect more change for the better," the CEO added.

"I will also try to bring more transparency to the work that we do. You won't see tweets from me on the 'topic of the day' or the loudest sound bite, but rather on the ongoing, continuous, and challenging work our teams are doing to improve the public conversation on Twitter," he continued.

He also expressed gratitude to the whole Twitter team. "They have stood strong and focused, sharp and agile. They've been doing the work, as they always have," he wrote while praising the team at Twitter.

Earlier, two senior Twitter leaders who oversee the consumer and revenue divisions will depart the social media company, Chief Executive Officer Parag Agrawal told employees in a memo on Thursday, in one of the biggest shake-ups at the company since billionaire Elon Musk announced he would buy it for $44 billion.

Agrawal also said in the memo, which was seen by Reuters, that Twitter would pause most hiring and review all existing job offers to determine whether any "should be pulled back."

He attributed the decision in part because Twitter was not able to hit user growth and revenue milestones to maintain confidence that it could reach aggressive growth targets it had set in 2020.

"We need to continue to be intentional about our teams, hiring and costs," Agrawal wrote.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.