By 
Twitter Inc.’s general managers for revenue and consumer are leaving the company ahead of Tesla Inc. Chief Executive Elon Musk’s takeover of the social-media giant.
Kayvon Beykpour, the general manager of Twitter’s
TWTR,
-2.59%
consumer business, announced in a series of Thursday tweets that the company’s current chief executive, Parag Agrawal, asked him to leave “after letting me know that he wants to take the team in a different direction.”
Beykpour said he was on paternity leave at the time he got the news.
Bruce Falck, Twitter’s general manager of revenue, will be departing along with Beykpour, a Twitter spokesperson confirmed to MarketWatch.
Twitter also plans to pause most hiring and backfills, the spokesperson added, except in the case of business-critical roles. The company will cut back on non-labor costs as well.
A report in The Wall Street Journal Thursday indicated that Twitter didn’t have current plans for companywide layoffs.
Musk is in the process of acquiring Twitter, after reaching a deal with the company’s board of directors. He recently picked up new financing partners, and a Thursday Bloomberg report said that he was in talks to raise enough funding through equity and preferred financing such that he wouldn’t have to take out a margin loan against his Tesla
TSLA,
-3.43%
shares.
Twitter share were off 1.2% in afternoon trading Thursday.
Comments