Elon Musk has reportedly fired the top Twitter executives after closing the massive $44 billion buyout deal. According to a report by Reuters, the list of top Twitter executives fired by Elon Musk include Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde. Although the firing spree by Elon Musk may look like an extreme step, it is not all downside for the Twitter executive as they reportedly stand to make a total of $88 million between them.
As per a report by Insider, the former CEO of Twitter Parag Agrawal alone will receive the largest payout of $38.7 million. The Indian-origin executive will get the huge amount largely due "to the entirety of his shares vesting upon his firing". The report further reveals that Twitter’s chief financial officer Ned Segal, is set to receive $25.4 million and Vijaya Gadde, the chief legal officer, will be richer by $12.5 million after firing. Sarah Personette, the chief customer officer, would get $11.2 million.
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Musk is expected to reorganise Twitter and cut the workforce by a massive margin.
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Musk, however, told Twitter employees during his visit to its headquarters that he is not going to lay off 75 per cent of the workforce when he takes over the micro-blogging platform. Reports earlier mentioned that Musk will fire 75 per cent, or 5,600 employees, from the Twitter staff globally. Musk has casually mentioned laying off Twitter staff in his tweets, without mentioning any figure.
Twitter employees are still anxious about expected staff cuts as part of the takeover. They had written an open letter to the board of directors and Musk, criticising his plans to lay off 75 per cent of the workforce.
(with inputs from IANS)
