Twitter CEO: Parag Agrawal Explains Layoffs; Preparing for ‘All Scenarios,’ ‘Challenging Economy’

The Twitter CEO already broke his silence regarding the many layoffs in the past week, primarily as it focused on key executives with massive roles in the social media company. There have been many backlashes that Parag Agrawal faced in his decisions for the company, especially as many vital people got ousted from the company.

Twitter CEO Parag Agrawal Explains the Many Layoffs in the Company

Parag Agrawal started his long thread with "a lot has happened in the past several weeks" and explained his actions and many decisions for the company. The CEO said that many changes are happening to Twitter, and it is a part of the upcoming events that it will face due to its sale to Elon Musk.

The CEO further said that it is "preparing for all scenarios" for the best interests of Twitter, and it talks about the necessary decisions he made in the past weeks that massively affected the company.

There would be critical happenings to manifest soon, and this is only a taste of what is about to happen for the company, says the CEO.

Twitter is Facing a Challenging Economy, Preparing for the Future

Agrawal went on to say that he will bring more updates and transparency for the public to see and know their information about the social media company that affects them. Moreover, it is looking into ways to manage its costs now, and it is because of the "challenging macro environment" that the world has now, especially as the economy is only recovering from the pandemic.

The CEO also released a "legalese" that explains more of Twitter's transparency and information for all.

Parag Agrawal, Elon Musk, and Twitter's Future

Last year, the new CEO made headlines in the United States and India for his appointment as the successor to Jack Dorsey is leading the social media company that has a global significance to many. Parag Agrawal is a name that the world knew due to his role and the shoes he has to fill in, and less than six months since his appointment, a lot has happened on Twitter.

Agrawal is also essential to Twitter's induction of Elon Musk as part of its investors and massive shareholders in the company. He previously confirmed that Musk is not joining the Twitter board of directors and members as he would focus on his role as a stockholder only, with 9.2 percent stakes in the company.

However, it is now a buyout by Musk, as the company agreed with its sale but is still finalizing the company's deal with the tech CEO of Tesla.

Agrawal now sees massive backlash in the latest layoffs he did for the company, and only the executives removed from their jobs provided their statements online. The CEO explained his actions and talked about the company's best interests in the coming events, especially with its transition to new ownership under Elon Musk.

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Written by Isaiah Richard