Since last year big tech companies have been losing top employees and since Elon Musk announced his intention to buy Twitter for $44 billion. Recently, three new key senior employees have departed the company as it awaits being handed over to its new owner.
The key employees leaving the company include Vice President of Product Management Ilya Brown, Vice President of Twitter Service Katrina Lane, and Head of Data Science Max Schmeiser. These latest departures follow not too long after Head of Consumer Kayvon Beykpour and Revenue Product lead Bruce Falck announced that they were leaving the social media giant.
The three executives are leaving the company for new opportunities, a Twitter spokesperson announced. Twitter also recently announced that it was pausing hiring but it looks like the company may be forced to continue to hire to fill out vacant positions. The company is most likely to resume hiring after the deal with Elon Musk gets completed.
Since Elon Musk’s bid for Twitter got accepted by the company’s board, the company has witnessed various declines associated with the delay of the deal. Elon Musk recently tweeted that the deal to acquire the company will be on hold pending the time Twitter showed proof that its spam accounts were below 5 percent of the total users on its platform.
The deal has also received aversion from individuals and bodies who believe that billionaire and Tesla CEO Elon Musk is out to wash down the efforts already put in place by Twitter to create a safe environment for users.
Twitter’s legal team also recently accused Elon Musk of breaching an NDA agreement after he revealed via a tweet that the sample size for the social media’s checks on automated users was 100. In a tweet that the Tesla and Space X boss shared on Saturday, he revealed that “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100!”
There are speculations that Elon Musk may re-negotiate his bid and that the “games” he is playing will lead to a renegotiation. According to Hindenburg Research, Twitter will receive lesser bids if Elon Musk pulls out of the deal. Elon Musk will be required to pay Twitter a termination fee of $1 billion if he can’t secure funding for his bid. Twitter will also have to pay Elon Musk $1 billion in breakup fee if the company decides not to go through with the deal as a result of another offer.
Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.
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