Agarwal, Gadde likely to get marching orders once Musk’s Twitter deal is complete
New Delhi, May 03: Many in Twitter are worried about losing their jobs ever since Elon Musk bought over the micro-blogging site for $44 billion. Chief Executive Officer (CEO), Parag Agarwal has been bombarded with questions about the future of employees in Twitter.
A Reuters report suggests that Musk has already lined up a new CEO for Twitter who will replace Agarwal once the sale deal is completed later this year. Last month, Musk had told Twitter's chairman Bret Taylor that he does not have confidence in the company's management while hinting a major restricting.
Agarwal is expected to serve his role until the deal is completed. Musk has however declined to reveal the identity of the new CEO.
There are also reports that Musk plans to fire Twitter's legal lead Vijaya Gadde as well according to a report in The New York Post. If removed, Gadde will get a severance package worth $12.5 million, including Twitter shares. Earning $17 million a year, she is one of the highest paid executives in the company.
"Gadde, who earned $17 million last year as Twitter's top legal counsel, could be on the chopping block as Musk is reportedly planning to slash jobs and reduce executive pay as he looks to secure financing for his Twitter bid, the report said.
"I believe the future Twitter organisation will continue to care about its impact on the world and its customers," Agarwal had said while addressing employees.