Soon after Elon Musk’s acquisition of the social media platform, a string of layoffs, policy changes and controversial amendments in the company followed. Now in a recent update on Wednesday, billionaire and investor Elon Musk said that he will “reduce his time at Twitter and eventually find a new leader” to run Twitter.
As soon as Musk took charge of the company, he fired the top liaison including the former chief executive Parag Agarwal, while many senior officers such as Sarah I Personette, the ad chief, resigned after being dissatisfied with the changes made by the new Chief Twit. The company also cut slacked off around 3,700 people this month via email and even reduced its infrastructure expenditure in order to diminish production costs post-acquisition, which finalised in late October.
Elon Musk was quoted saying by Reuters, “There’s an initial burst of activity needed post-acquisition to reorganise the company. But then I expect to reduce my time at Twitter.”
The CEO also acknowledged that some Tesla engineers were helping in the evaluation of Twitter’s engineering teams, but further added that it was on a “voluntary basis” and “after hours”.
These remarks were made by Musk in a Delaware court while justifying himself to defend against allegations that his pay package worth $56 billion at Tesla Inc was stationed on easy-to-achieve performance targets and was consented by an acquiescent board of directors.
For Twitter, Musk looks forward to ‘complete organisational restructuring soon’.
The first two weeks for Elon Musk as the Twitter head were full of dynamic changes and chaos. Reported by Reuters on Wednesday, Musk said that he was aiming to complete an organisational restructuring soon.
Earlier on Wednesday, Musk sent an email to Twitter employees, ordering that they needed to decide by Thursday whether they wanted to serve the company and work “long hours at high intensity” or accept a severance package of three months of pay.
However, so far, Twitter has already started and rolled back several features within days, such as the $8 monthly subscription for verified accounts via Twitter Blue, the second ‘Official’ verification label among others. It is being debated that Musk’s control may plummet the social network to deeper loss.
