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Tag: parag agrawal

  • ‘Not the CEO you are looking for’: Banker changes his LinkedIn bio after search for Parag Agrawal shoots

    ‘Not the CEO you are looking for’: Banker changes his LinkedIn bio after search for Parag Agrawal shoots

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    Around 11 months after being appointed as Twitter’s CEO, Parag Agrawal was fired after tech billionaire Elon Musk completed his acquisition of the social media platform on October 27.

    Now a LinkedIn user named Parag Agrawal who is a banker, has claimed that after the ouster of the Twitter CEO, his profile views on the professional network have shot up by 36 per cent. To help people find the right Parag, he has changed his LinkedIn bio to read “Not the CEO you are looking for.”

    He wrote on LinkedIn, “After the Twitter CEO was fired, my profile views have shot up by 36 per cent. So to help folks with finding the right Parag, I have changed my profile page headline.”

    Despite the fanfare surrounding Agrawal’s appointment as Twitter’s CEO and the support of many Indians, his brief tenure was chaotic and difficult as Twitter dealt with issues related to free speech, regulations, content moderation, and tense relations with governments.

    Agrawal’s tenure came to an end when the $44 billion acquisition of Twitter was formally closed. According to reports, he was followed by several top executives, including Chief Financial Officer Ned Segal and Vijaya Gadde, the head of legal policy, trust, and safety.

    As of now, Twitter does not have an official CEO, though Musk may serve as an interim replacement. He announced earlier today that the company will form a new content moderation council. The current moderation policy will remain in place until it is replaced. It means that banned members such as former US President Donald Trump will not be returning anytime soon. Simultaneously, he stated that Twitter expects to reverse all bans and suspensions imposed “for minor and dubious reasons.”

    Also Read: Fired by Elon Musk, Twitter CEO Parag Agrawal and policy chief Vijaya Gadde set to get around Rs 1000 crore

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  • ‘Draw up lists…’: Elon Musk plans to lay off employees at Twitter

    ‘Draw up lists…’: Elon Musk plans to lay off employees at Twitter

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    Days after acquiring Twitter, its chief Elon Musk has ordered the top management to prepare a list of employees who can be sacked, the New York Times reported on Saturday. Musk, who took control of the US-based microblogging site earlier this week, has already fired three top officials including CEO Parag Agrawal.

    Now, he has planned more job cuts and for that, he has asked some managers to “draw up lists of employees to cut”. This is in line with reports that came out ahead of Twitter’s takeover by Musk, suggesting that the new owner may bring down the workforce – some even suggested that 75 per cent of people could be laid off. 
            
    NYT reported that Musk planned to begin laying off workers at Twitter as soon as on Saturday.

    Musk has ordered the job cuts across the company, with some teams to be trimmed more than others, the report said, adding that the scale of the layoffs could not be determined at Twitter which has around 7,500 employees.

    According to the report, the layoffs would take place before November 1 when employees were scheduled to receive stock grants as part of their compensation. Such grants are a significant portion of employees’ pay and by firing workers before this date, Musk may avoid paying the grants. 

    The new Twitter boss has already told investors that he would take the company private, reduce its workforce, roll back its content moderation rules and find new revenue streams. 

    Musk took over the charge of the company on Thursday after closing a $44 billion deal. Soon after Musk became the new boss, Twitter CEO Parag Agrawal, policy head Vijaya Gadde, Chief Financial Officer Ned Segal, and General Counsel Sean Edgett were reportedly fired.

    In a tweet on Friday, Musk said: “The bird is freed.”

    The business magnate also wrote a letter to advertisers, explaining why he bought Twitter. In a three-page letter, he said it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence. He said there is currently great danger that social media will splinter into far right-wing and far left-wing echo chambers that generate more hate and divide our society.

    Musk said Twitter won’t turn into a “free-for-all hellscape” and that there will be consequences for violating the terms. He said users on the platform will still have to adhere to the “laws of the land”. “I didn’t do it (acquire Twitter) to make more money. I did it to try to help humanity, whom I love…And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility,” Musk said. 
     

    With inputs from PTI

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  • Elon Musk Moves Quickly On Twitter Restructuring : Huge Layoffs On Saturday?

    Elon Musk Moves Quickly On Twitter Restructuring : Huge Layoffs On Saturday?

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    Although many predicted that Elon Musk’s $44 billion deal to buy Twitter
    TWTR
     could still fall through, the billionaire did indeed close the transaction on Friday and his restructuring plan was already well thought out and quickly implemented. At least the beginning of it—who knows what turmoil lies ahead?

    Musk let go key executives CEO Parag Agrawal, CFO
    CFO
     Ned Segal and the head of legal policy Vijaya Gadde, according to the Washington Post. However, don’t shed any tears for the trio, who take with them golden parachute packages and accelerated vesting of stock options worth almost $200 million.

    However, that’s just the beginning of the bloodbath according to The New York Times
    NYT
     (which talked to four different sources at Twitter) the layoffs will begin on Saturday, ahead of a November 1 scheduled distribution of stock grants (and a key vesting date on some already issued stock grants).

    Although the company is no longer public, Musk had previously announced that he would pay out the equivalent of the value of the stock grants, estimated to be about $100 million, in cash.

    Interviews with various sources and document obtained by the Washington Post reportedly show that he plans to fire about 75% of twitter employees, likely well before a town-hall meeting with all employees on Friday. The New York Times reports many of the layoffs will occur tomorrow, October 30.

    Musk reportedly told Twitter staff on Wednesday that the 75% figure is inaccurate, however, he did not state to what extent the layoffs would go.

    Musk has courted key advertisers and said the platform will be an “advertising destination.” One advertiser, General Motors
    GM
    , has already put its Twitter ad buys on hold, although this could be due to Musk’s ownership stake in Tesla.

    His ownership also rubbed some high-profile users the wrong way. Media giant Shonda Rhimes, This Is Us executive producer Ken Olin, Billions showrunner Brian Koppelmen and Bill & Ted star Alex Winter all left or said they are leaving Twitter.

    NBA star LeBron James expressed concern over hate speech, citing a report by the Network Contagion Research Institute, which studies the spread of ideological content online, who said that the use of a racial slur on Twitter had increased by nearly 500% in the 12 hours after Musk’s deal was finalized.

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    Derek Baine, Contributor

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  • Twitter’s Ned Segal confirms exit, changes bio to ‘former CFO and current fan of Twitter’

    Twitter’s Ned Segal confirms exit, changes bio to ‘former CFO and current fan of Twitter’

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    Twitter chief financial officer Ned Segal confirmed his exit from the social media giant on Friday through Twitter.

    Segal changed his bio to “former CFO and current fan of @Twitter” and tweeted that Thursday was his last day, concluding his five-year stint with the company.

     

    He described his journey at Twitter as the “most fulfilling” year of his career. His tweets came hours after Musk indicated the completion of the $44 billion acquisition deal.

    Reportedly Segal and other two executives of Twitter Inc including Indian-origin CEO Parag Agrawal and legal Vijaya Gadde have been fired by the world’s richest man who is not at the helm of the company.

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  • ‘He is trying to please people’: What made Elon Musk fire Twitter CEO Parag Agrawal

    ‘He is trying to please people’: What made Elon Musk fire Twitter CEO Parag Agrawal

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    The biggest and what is touted to be the messiest deal of our times, the Twitter-Musk deal, is in its final episode. The deal has reportedly been closed and the world’s richest man now owns Twitter. However, no official confirmation is out on it yet. 

    The reports of the deal closing also say that Twitter’s top brass, including its Indian-origin CEO Parag Agrawal, have been sacked by the incoming owner.

    Elon Musk and Parag Agrawal started off great, however, their relationship went south dramatically as the deal talks progressed.

    A series of texts that were disclosed at Delaware court revealed that the two were cordial and excited to start working with each other, bonding over ‘engineering’ and their liking for the microblogging site, the BBC reported.

    As the months went by and Musk started with his due diligence in Twitter’s spam/bot accounts and voiced them unabashedly on Twitter, the duo started falling apart. In fact it was a tweet from Musk that did not go well with Agrawal. 

    Musk on April 9 asked on his Twitter if the social media site was dying as “most of its top accounts rarely tweet.” 

    Before this tweet, Musk and Agrawal seemed to bond well. In fact, in March when it became clear that Musk intends to buy Twitter shares, Agrawal texted him saying that he would love to chat. Eventually, by March 31, the two met for a dinner in San Jose at an Airbnb near a farmyard. 

    Musk described the dinner as, “wins for the weirdest place I’ve had a meeting recently”. Agrawal too, thought it was “memorable.”

    On April 5, the decision to appoint Musk on board was made and announced.  Musk replied to Agrawal’s tweet saying how he was excited to work with Twitter and Agrawal, to make significant improvements. 

    Then came the April 9 tweet on the “most popular accounts” and if Twitter was “dying” that led to the downfall of this brimming bond between the two engineers.

    On April 11, Agrawal took Twitter to announce that Musk has decided not to join the board.

    Just three days after this, Twitter in an SEC filing, revealed Musk’s offer to buy the company for $44 billion. However, there were murmurs Twitter would resist the takeover.  

    In between, a mutual friend tried to come to the rescue. Jack Dorsey, former Twitter top boss, tried to patch up the relationship between Musk and Agrawal but didn’t succeed. 

    The next day, Jack Dorsey made another attempt to patch up the relationship between the two. He organised a call but it didn’t go well, the BBC reported. 

    Musk then texted Dorsey saying, “Parag is just moving far too slowly and trying to please people who will not be happy no matter what he does.”

    Dorsey replied: “At least it became clear that you can’t work together,” the BBC reported.

    Also read: CEO Parag Agrawal leaves Twitter office after getting fired, won’t return: Report

    Also read: ‘Good riddance’: Netizens celebrate Parag Agrawal’s ouster as Twitter CEO

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