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Company’s future remains 'uncertain' under Musk, says Twitter CEO Parag Agarwal

Company’s future remains 'uncertain' under Musk, says Twitter CEO Parag Agarwal
26 Apr, 2022
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With Tesla boss Elon Musk buying out Twitter for roughly $44 billion, the fate of the micro-blogging platform and its employees’ remains “uncertain”.  

Twitter CEO Parag Agrawal said on Monday during a company-wide town hall meeting and as quoted by Reuters that “the future of the social media firm is uncertain after the deal to be taken private under billionaire Elon Musk closes.”  

As Agrawal listened to staff questions about Musk’s plans for the company, the possibility of layoffs and the board’s rationale for the deal, he deferred many questions stating that those should be addressed to Musk.  

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Musk will reportedly join Twitter staff for a question-and-answer session at a later date, the company told employees. 

“Once the deal closes, we don’t know which direction the platform will go,” Agrawal said, referring to a question on whether former US President Donald Trump, who was permanently suspended from Twitter last year, would be allowed to return once Musk takes over. 

Also read: Elon Musk officially owns Twitter now

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“I believe when we have an opportunity to speak with Elon, it’s a question we should address with him,” said Agrawal who also added that there were no plans for layoffs. On the whole he referred to this period as a “time of uncertainty”. 

Bret Taylor, chair of Twitter’s board of directors, aimed to reassure employees that the agreement with Musk prioritised “operating continuity” until the deal was closed. 

Agrawal, who will reportedly have a $42 million payday if sacked by Musk after his takeover, assured employees that he will stay on as CEO until the deal is closed. 

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Earlier, in a joint statement with Musk, Parag Agrawal said, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

Meanwhile, Musk said in a statement on Monday, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.” 

He added that Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.  

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