Elon Musk to reshape Twitter, plans to lay off employees: report
California, October 30: After closing the $44 billion acquisition deal on Thursday, Elon Musk began reforming the microblogging platform’s policies and is wasting no time in reshaping it by cutting employees and introducing… plans for a board to determine content decisions, The Hill reported.
Despite repeatedly doubting his intentions to follow through on the $44 billion Twitter acquisition deal, Tesla CEO Elon Musk is now in charge of Twitter. Elon Musk says users will soon be able to choose a version of Twitter they prefer after the Twitter takeover.
Regarding the changes in content moderation policies, Musk wrote in a tweet that “Twitter will form a content moderation council with widely diverse views. No major content or account reinstatement decisions will take place. occur before this council meets.”
In one of the first changes, he purged senior executives from the company as soon as he reached the expected deal in which Twitter CEO Parag Agrawal and CFO Ned Segal left Twitter’s headquarters. the company in San Francisco.
He also hinted that further changes to the status of banned accounts under the previous leadership were to come in the early days of his leadership, according to The Hill. Elon Musk takes control of Twitter; Will he become the only face of communication for a social media company like Tesla?.
The Tesla CEO also instilled distrust among social media users when he tweeted on his Twitter “Let the good times roll” shortly after acquiring the social media platform and closing the deal.
Musk arrived at Twitter HQ earlier this week with a sink and documented the event on Twitter saying “Entering Twitter HQ – let it sink!” and also updated his Twitter description to “Chief Twit”. He tweeted a video of himself and described his visit as an experience he was trying to ‘sink into’ as the Tesla CEO has until the end of the week to shut down Twitter to negotiate or face a lawsuit .
In April, Twitter accepted Musk’s proposal to buy and privatize the social media service. However, Musk quickly began casting doubt on his intentions to follow through on the deal, alleging that the company failed to adequately disclose the number of spam and fake accounts on the service.
In July, in a surprising turn of events, Elon Musk who had long expressed interest in buying Twitter ended the deal. The Tesla CEO did so by alleging that Twitter violated their mutual purchase agreement by misrepresenting the number of spam and fake bot accounts on its platform.
After Musk announced the termination of the deal, the market fell sharply. Twitter later sued Musk accusing him of using bots as a pretext to get out of a deal.
Again, last week, Musk confirmed that he would pursue the takeover of Twitter at the originally agreed price of $54.20 per share. However, legal proceedings over the Twitter deal had been stayed by a judge handling the dispute until October 28.
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