Twitter has fired its two top executives and froze the hiring process as the company was unable to hit the revenue goals and user growth. Twitter’s CEO, Parag Agrawal, also sent a memo to its employees informing them about the structural changes that will soon take place in the company.
Statements from the two top executives of Twitter
I’m proud that we changed the perception around Twitter’s pace of innovation, and proud that we shifted the culture internally to make bigger bets, move faster, and eliminate sacred cows.
— Kayvon Beykpour (@kayvz) May 12, 2022
The two top executives of Twitter that got hired by the Parag Agarwal were: the consumer product chief, Kayvon Beykpour, and the head of products, Bruce Falck. Kayvon Beykpour tweeted; “I’m proud that we changed the perception around Twitter’s pace of innovation, and proud that we shifted the culture internally to make bigger bets, move faster, and eliminate sacred cows.” Parag Agrawal thanked him in a tweet, saying; “You’ve had such a huge impact. I have so much respect and admiration for what you have accomplished and am so glad I got to work closely with you all these years.”
I wanted to take a moment to thank all the teams and partners I’ve been lucky enough to work with during the past 5 years. Building and running these businesses is a team sport
— bruce.falck() ? (@boo) May 12, 2022
Bruce Falck tweeted; “I wanted to take a moment to thank all the teams and partners I’ve been lucky enough to work with during the past 5 years. Building and running these businesses is a team sport.” Parag Agrawal replied; “Thanks for everything you have done for Twitter – your impact will be felt for a long time, by many people. On a personal note, it has been so great to see how you have always led with your heart, with relentless focus, and deep care for our teams.”
Parag’s memo to the employees to freeze hiring
Agarwal wrote in the memo; “At the beginning of the pandemic in 2020, the decision was made to invest aggressively to deliver big growth in audience and revenue, and as a company, we did not hit intermediate milestones that enable confidence in these goals. We are in the middle of acquisition and we don’t yet know the timing of the close. In order to responsibly manage the organization as we sharpen our roadmaps and our work, we need to continue to be intentional about our teams, hiring, and costs.” He also noted that Twitter will pause most hirings and backfills and people will only be hired for business-critical roles.
Read more: Jack Dorsey Says No to Becoming Twitter CEO Again
