Twitter blocks hiring and cuts costs when executives leave

A masked person approaches the New York Twitter offices after announcing that they will immediately close their reopened offices effectively in response to updated CDC guidelines during the coronavirus disease (COVID-19) outbreak in Manhattan, New York City, United States, July 29, 2021.

Andrea Kelly | Reuters

Twitter is suspending most of its hiring this week as two executives are leaving the company, a spokesperson confirmed on Thursday.

The news comes as billionaire Elon Musk seeks to complete his $ 44 billion deal to buy the company and make it private. Musk told banks that raising money for the deal would cut executive and board salaries and push the company to cut other costs. Reuters previously reported.

The spokesperson confirmed that head of consumer Kayvon Beykpour and head of revenue products Bruce Falck will leave the company. Reuters previously reported that CEO Parag Agrawal told employees the news in an email.

In a series of tweet On Thursday, Beykpour said it wasn’t her decision to leave Twitter. He shared the news of his departure on paternity leave, he said.

“Parag asked me to leave after letting me know he wants to take the team in a different direction,” he wrote.

falcon tweeted his thanks to the teams he worked with on Twitter on Thursday, but did not directly address the circumstances surrounding his departure.

Twitter said it will reduce non-labor costs and that Jay Sullivan will take over as CEO of Bluebird, the consumer team, and interim general manager of Goldbird, the revenue team.

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