Twitter CEO Parag Agrawal has told worried employees that he has no idea where the company will go once the USD 44 billion deal to take the social media giant private is completed with new owner billionaire Elon Musk.
One employee tweeted that they were “in need of a stiff drink,” while another expressed dissatisfaction with Musk supporters within the company.
According to CEO Parag Agrawal, Musk “wants Twitter to be a powerful, positive force in the world, just like all of us.” When the deal is finalised in three to six months, Twitter CEO Aditya Agrawal told employees that stock options would be converted to cash.
Employees would continue to receive bonuses in accordance with the company’s vesting schedule and would continue to receive the same benefits for a year following the sale.
Some employees were reportedly concerned that they would not be able to benefit from the long-term appreciation of their stock.
“It’s important to acknowledge that all of you have many different feelings about what is happening,” CEO Parag Agrawal said.
“In this moment, we operate Twitter as we always have,” he said, adding that “how we run the company, the decisions we make, and the positive changes we drive — that will be on us, and under our control.” Uncertainty now hangs over the fate of Twitter employees who voiced concern over layoffs in the wake of the acquisition by Musk.
