© Reuters. FILE PHOTO: Elon Musk’s Twitter profile is seen on a smartphone positioned on printed Twitter logos on this image illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
By Sheila Dang and Katie Paul
(Reuters) -Twitter Chief Govt Parag Agrawal sought to quell worker anger on Friday throughout a company-wide assembly the place workers demanded solutions to how managers deliberate to deal with an anticipated mass exodus prompted by Elon Musk.
The assembly comes after Musk, the Tesla (NASDAQ:) chief govt who sealed a $44 billion deal to purchase the social media firm, repeatedly criticized Twitter (NYSE:)’s content material moderation practices and a high govt chargeable for setting speech and security insurance policies.
On the inner city corridor assembly, which was heard by Reuters, executives mentioned the corporate would monitor employees attrition each day, but it surely was too quickly to inform how the buyout cope with Musk would have an effect on employees retention.
Musk has pitched lenders on slashing board and govt salaries however precise price cuts stay unclear, in line with sources acquainted with the matter. One supply mentioned Musk wouldn’t make selections on job cuts till he assumes possession of Twitter.
“I am uninterested in listening to about shareholder worth and fiduciary obligation. What are your trustworthy ideas concerning the very excessive probability that many workers won’t have jobs after the deal closes?” one Twitter worker requested Agrawal, in a query learn aloud through the assembly.
Agrawal answered that Twitter has at all times cared about its workers and would proceed to take action.
“I consider the longer term Twitter group will proceed to care about its impression on the world and its prospects,” he mentioned.
Executives mentioned through the assembly that the worker attrition charge has not modified in comparison with the degrees earlier than the information of Musk’s curiosity in shopping for the corporate.
In latest days, Musk has tweeted criticism of Twitter’s high lawyer, Vijaya Gadde, who’s a Twitter veteran and widely-respected throughout Silicon Valley. Musk’s assault triggered a barrage of on-line harassment focusing on her.
Staff additionally advised executives they feared Musk’s erratic conduct may destabilize Twitter’s enterprise, and harm it financially as the corporate prepares to deal with the promoting world in a presentation subsequent week in New York Metropolis.
“Do we’ve got a technique within the near-term on learn how to deal with advertisers pulling funding,” one worker requested.
Sarah Personette, Twitter’s chief buyer officer, mentioned the corporate was working to speak regularly with advertisers and reassure them “the way in which that we service our prospects just isn’t altering.”
After the assembly, a Twitter worker advised Reuters there was little belief in what executives needed to say.
“The PR communicate just isn’t touchdown. They advised us do not leak and do a job you’re pleased with, however there isn’t a clear incentive for workers to do that,” the worker advised Reuters, noting that compensation for non-executive staffers is now capped due to the deal.
Agrawal is estimated to obtain $42 million if he had been terminated inside 12 months of a change in management on the social media firm, in line with analysis agency Equilar.
Throughout the assembly, Agrawal urged employees to count on change sooner or later underneath new management, and acknowledged that the corporate may have carried out higher over time.
“Sure, we may have performed issues in another way and higher. I may have performed issues in another way. I take into consideration that rather a lot,” he mentioned.
Twitter declined additional remark.
