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Top executive on Twitter says Elon Musk’s approach to his takeover has created a ‘chaos tax’ for the company

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  • Twitter’s product manager said “chaos tax” from Musk’s takeover bid is likely to continue, according to the WSJ.
  • Twitter has held 15 major meetings following Musk’s offer of $ 44 billion (R694 billion), the Journal reported.
  • Some employees are optimistic that Musk can help transform the company, but others want to leave.
  • For more stories go to www.BusinessInsider.co.za.

A top executive on Twitter has told employees that Elon Musk’s $ 44 billion (R694 billion) takeover bid for the company had created a “tax of chaos”, according to internal Slack announcements seen by the Wall Street Journal.

In an internal announcement of the tumultuous takeover of the company, Twitter’s new product manager, Jay Sullivan, told employees: “I expect the ‘chaos tax’ and ups and downs to continue.”

He added: “As I know more, I will find ways to share with this group!”

According to the magazine, Twitter has held 15 meetings for the entire company or department to address employee concerns in the midst of upheavals after The Twitter board’s decision to accept Musk’s hostile takeover bid.

Sullivan himself joined as a result of this upheaval, replace one of the two directors got rid of CEO Parag Agrawal in a “shake-up” that also included a layoff and the termination of job offers.

Some employees have left the company, others are looking for new jobs, while others are said to be striving to see how Musk changes the company, the Journal reported.

Musk has publicly accused Twitter since he agreed to a deal to buy the company, accusing it of not to be politically neutral, block freedom of expression, and errs in its estimates of the number of bots on the platform. He has put the deal “on hold” over the issue of fake accounts.

Agrawal wrote one Twitter thread Monday and explained why Musk’s proposal that Twitter should take a sample of 100 users to determine the number of bots would not work. Musk responded with a poop emoji.

The Journal reported that a number of employees had expressed optimism about the takeover, with “dozens” in a Slack channel labeled “i_dissent” hoping Musk could help transform a company that had counted its number of users for three years.

In early May, said Musk he wanted to hire more people and five times Twitter’s revenue by 2028.

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Top executive on Twitter says Elon Musk’s approach to his takeover has created a ‘chaos tax’ for the company

Source link Top executive on Twitter says Elon Musk’s approach to his takeover has created a ‘chaos tax’ for the company

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