Twitter Freezes Hiring Ahead of Elon Musk Acquisition

pcmag.com:

Twitter has told employees that it's implementing a hiring freeze—and in some cases rescinded offers that have already been issued to prospective employees—as a cost-cutting measure ahead of the proposed $44 billion acquisition by Tesla CEO Elon Musk.

Bloomberg reports(Opens in a new window) that Twitter informed employees of the hiring freeze in an internal memo. The memo reportedly indicates that Twitter is cutting back on other costs, such as travel expenses and marketing budgets, in addition to keeping its headcount low as it waits to learn its fate.

Some existing Twitter employees will also be leaving. Twitter's general manager of its consumer division, Kayvon Beykpour, said he was asked to step down after a seven-year tenure:

Twitter's revenue product lead, Bruce Falck, is also leaving the company:

While it's never a good look for a company to fire two of its executives—especially when one of them is on paternity leave—these cost-cutting measures are fairly common among companies expecting a takeover because they want to make themselves as attractive as possible.

"Effective this week, we are pausing most hiring and backfills, except for business critical roles," a Twitter spokesperson told us in response to our request for comment. "We are pulling back on non-labor costs to ensure we are being responsible and efficient."

Sign up for What's New Now to get our top stories delivered to your inbox every morning.

This newsletter may contain advertising, deals, or affiliate links. Subscribing to a newsletter indicates your consent to our Terms of Use and Privacy Policy. You may unsubscribe from the newsletters at any time.

Your subscription has been confirmed. Keep an eye on your inbox!