Two senior Twitter leaders overseeing the consumer and revenue divisions will be leaving the social media company, chief executive Parag Agarwal told employees in a memo on Thursday, after billionaire Elon Musk announced he would buy it for $44 billion.
Agarwal also said in the memo, which was seen by Reuters, that Twitter Will withhold most hiring and review all existing job offers to determine if any “should be pulled back.”
He attributed the decision to partly because Twitter wasn’t able to hit user growth and revenue milestones to maintain confidence that it can reach the aggressive growth goals it set in 2020.
“We need to be intentional about our teams, hiring and cost,” Agarwal wrote.
The company was targeting $7.5 billion in annual revenue and 315 million daily users by the end of 2023, but scaled back those targets in its most recent earnings report.
Kayvan Baccour, who heads Twitter’s consumer division, and Bruce Falk, who oversees revenue, both tweeted Thursday that the departures were not their decisions.
“Parag asked me to leave after telling me he wanted to take the team in a different direction,” Baqpour tweeted, adding that he was still on paternity leave from Twitter.
“I’ll make it clear that I was fired by (Parag) too,” Falk said, though he appeared to later delete the tweet.
Falk thanked his team in a tweet thread and updated his bio to say “unemployed.”
“We were able to get the results we made through your hard work – quarterly revenue doesn’t lie. Google it,” he said.
Jay Sullivan, who leads the consumer unit during Bekpour’s leave, will become permanent head of the division. Agarwal said in the memorandum that he would also oversee the revenue team till a new leader is named.
While there are no layoffs planned, Agarwal said Twitter will reduce its spending on contractors, travel and marketing as well as its real estate footprint.