After the deal to take Twitter private under billionaire Elon Musk closes, Twitter Chief Executive Parag Agrawal reminded staff on Monday that the company's future is unknown. He was speaking during a Reuters-heard company-wide town hall meeting.
Agrawal, who has only been in charge of Twitter for four months, has warned employees not to expect major changes before the deal closes, which is expected before the end of the year. He also stated that "there are no intentions for any layoffs at this time" and that Twitter's remote work policies will be maintained until the transaction is completed.
"Between now until close," he continued, "we will continue to make judgments as we have always done, guided by our ideals."
"That doesn't mean things won't change; they already have... I've been talking about pushing positive change at the company, and I'll keep doing so because it makes us better and stronger... Once the deal closes, other decisions may be made."
Others wondered how Musk's acquisition would affect employee turnover and attrition. The agreement comes at a time when there is already fierce rivalry for talent, particularly in the tech industry.
According to Agrawal, Twitter's leadership would try to create time for staff to ask Musk direct questions. He also stated that he expected to meet with Musk and will inform him of the principles that have driven Twitter's decisions.
Twitter's chairman, Bret Taylor, informed staff that the eerie hush that surrounded the negotiations was typical of takeover battles. Employees are frequently kept in the dark as the board of directors consults with bankers, attorneys, and pricey public relations consultants.
Finding out what was going on with their firm solely through Twitter, the service they established, was particularly aggravating for employees at Twitter, a company that has marketed itself as the world's town square.
When Musk takes over, President Donald Trump, who was banished from Twitter indefinitely last year, will be permitted to return.
The White House declined to comment on billionaire Elon Musk's purchase of Twitter Inc on Monday, but President Joe Biden has long been aware of the power of social media platforms.
"Our concerns are not new," White House spokeswoman Jen Psaki said.
"The president has long expressed concern about the ability of social media platforms, such as Twitter and others, to spread misinformation."
Musk will join Twitter employees for a question-and-answer discussion at a later date, according to the company.
