Elon Musk’s Twitter takeover leaves staff fearing mass employee exodus in CEO meeting

Elon Musk: What will happen to Twitter now?

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Mr Agrawal held a company-wide meeting with Twitter workers on Friday. Staff demanded Twitter’s CEO answer questions on concerns they had about how to handle an anticipated worker exodus following Elon Musk’s $44billion (£35billion) takeover.

Twitter’s board agreed to the deal with the Tesla CEO and founder of SpaceX earlier this week.

Mr Musk, who is the world’s richest man with a net worth of $273.6billion (£217.6billion), has vowed to protect free speech throughout his bid.

In a statement announcing the deal, the South African-born billionaire said: “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”

He added: “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.

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“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

However, at the internal town hall meeting, executives reportedly said the company would monitor staff attrition daily.

They also said it was too soon to be able to tell how Mr Musk’s takeover would affect staff retention.

One worker asked: “What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?”

The social media platform, which was founded in 2006, is thought to employ more than 7,000 people.

Despite concerns about staff retention, Mr Musk is not expected to make a decision on the matter until he assumes ownership of the company.

There are also concerns Mr Musk’s takeover could affect advertising.

Another person asked: “Do we have a strategy in the near-term on how to handle advertisers pulling investment?” 

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After the meeting, one employee told Reuters staff had little trust in what the executives had told them.

They said: “The PR speak is not landing.

“They told us don’t leak and do a job you are proud of but there is no clear incentive for employees to do this.”

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