Twitter CEO Tells Employees Company Is In The Dark Over Future Under Musk

Twitter Inc Chief Executive Parag Agrawal told employees on Monday that the future of the social media firm is uncertain after the deal to be taken private under billionaire Elon Musk closes. He was speaking during a company-wide town hall meeting that was heard by Reuters.

Musk will join Twitter staff for a question-and-answer session at a later date, the company told employees.

As Agrawal listened to staff questions about Musk's plans for the company, the possibility of layoffs and the board's rationale for the deal, he deferred many questions as ones that should be asked of Musk.

Musk has said he believes Twitter should be a platform for free speech. Employees asked Agrawal whether former U.S. President Donald Trump, who was permanently suspended from Twitter last year, would be allowed to return once Musk takes over.

"Once the deal closes, we don't know which direction the platform will go," Agrawal said, referring to the question regarding Trump. "I believe when we have an opportunity to speak with Elon, it's a question we should address with him."

Agrawal also told employees there were no plans for layoffs.

Bret Taylor, chair of Twitter's board of directors, aimed to reassure employees that the agreement with Musk prioritized "operating continuity" until the deal was closed.

"I think we feel very comfortable that (the deal) gives this team the ability to continue to make the company successful in between signing and closing the transaction," Taylor said.

© Copyright Thomson Reuters 2022. All rights reserved.

RECENT NEWS

Tesla Redefines Strategy Amid Market Pressures And Rising Competition

Tesla, once the unrivalled leader in electric vehicles, is realigning its product strategy toward more affordable models... Read more

Meta Reports Robust Quarterly Revenue, But AI Spending Soars Impacting Share Price

Meta, the conglomerate behind giants such as Facebook and Instagram, unveiled a stronger-than-anticipated quarterly reve... Read more

AI Rising: How BCG Defies Consulting Downturn While Igniting Industry Turmoil With AI Innovation

Although the consulting business has experienced a number of layoffs and reduced revenues due to prevailing economic unc... Read more

Electric Cars - The End Of The Road Or A Bump

Electric Vehicle Sales Trends in Europe: A Mixed Picture Electric vehicle (EV) sales are exhibiting varied trends acr... Read more

Fintech Emerges As A Strong Investment Prospect

Amid the fervor surrounding artificial intelligence, identifying sectors where it has verifiably improved sales and marg... Read more

Can Energy Production Keep Up? How Fueling Your Futuristic Technology Could Ignite A Power Crisis

The march of progress has delivered remarkable technological advancements, revolutionizing life as we know it. As we rac... Read more