Twitter loses three more senior employees before Musk takeover | Social Media News

All three chose to come out on their own, according to internal memos described to Bloomberg News.

By Bloomberg

Twitter Inc. is losing three more senior employees, including two vice presidents, reflecting uncertainty within the social media company as employees await the closing of the $44 billion acquisition of Elon Musk.

Ilya Brown, vice president of product management; Katrina Lane, vice president of the Twitter service; and Max Schmeiser, head of data science, are all leaving the company, according to internal memos described to Bloomberg. All three chose to go out on their own, according to the memos.

A Twitter spokeswoman confirmed the executives’ departures.

Less than a week ago, Twitter shook up its product organization, including the firing of two senior product executives by chief executive Parag Agrawal. Twitter also instituted budget cuts and implemented a hiring freeze last week, and while the company said it was not planning any layoffs, Agrawal told employees in an email: “Leaders will continue to make changes to their organizations to improve efficiency as needed.”

Twitter employees are in a state of uncertainty as the San Francisco-based company waits for Musk, the billionaire CEO of Tesla Inc., to finalize his deal to take the social network private for $54.20 a share. In town hall meetings over the past month, Twitter executives have faced questions about stock compensation and job security. During a presentation, management tried to motivate employees by reminding them why they should bother to show up for work.

Musk’s provocative tweets and public comments have complicated matters. He criticized Twitter executives and now says the company may be misleading the public about the number of bot and spam accounts included in Twitter’s calculation for total users.

Musk said the deal is “on hold” until he gets more information. Twitter said it was committed to completing the sale. The shares, which had fallen for seven straight trading days, rose 2.9% to $38.47 by late afternoon New York time on Tuesday. That’s still well below the offer price, indicating investors’ skepticism that the deal will go through.

The Twitter spokeswoman said of the departing employees, “We are grateful for all of their hard work and leadership,” according to her emailed statement. “We continue to focus on providing the best experience for Twitter users.”

(Updates with Twitter shares in the seventh paragraph.)

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