Ever since Tesla CEO Elon Musk bought Twitter for $44 billion, employees have been increasingly worried about losing their jobs. Over the past few weeks, CEO Parag Agarwal has been beset with a slew of questions about layoffs, the future of Twitter and more. As far as job cuts are concerned, Agarwal assured that nothing like this is happening at the moment. But, a new report from Reuters tells a different story.
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– Reports reveal that Elon Musk has already lineup a new chief officer for Twitter.
Parag Aggarwal may be replaced after the completion of the $44 billion sale deal later this year.
– Musk is also reportedly planning to sack Twitter’s legal chief Vijaya Gadde.
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Sources close to the publication were informed that Musk has already lined up a new chief executive officer for Twitter, which will be completed by Agarwal later this year after a $44 billion sale deal is completed. will take its place. Last month, the billionaire told Twitter Chairman Brett Taylor that he did not trust the company’s management, indicating a restructuring at the management level.
Agarwal, who replaced Jack Dorsey as CEO last November, is expected to continue his role until the completion of the sale of the company to Musk. Musk reportedly declined to reveal the identity of the replacement.
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It was previously reported that Musk would pay $43 million if Agarwal was fired within 12 months of the change in control of Twitter.
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A report in The New York Post has revealed that Musk also reportedly plans to sack Twitter’s legal chief Vijaya Gadde. If Vijaya Gadde is removed from the post, it is being said that Gadde will get a severance package of $12.5 million including Twitter shares. She currently earns around $17 million per year and is one of the highly paid executives in the company.
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“Gadde, who earned $1.7 million as Twitter’s top legal counsel last year, said the report. Musk is reportedly planning to cut jobs and slash executive pay as he takes over his Twitter account,” the report said. (Twitter) would like to secure financing for the bid,” the report said. Last week, 48-year-old Gadde reportedly broke down while addressing colleagues about the future of Twitter.