Reportedly Elon Musk has completed his $44bn takeover of Twitter.
According to reports by multiple American media outlets, Elon musk has fired top key Twitter executives on Thursday. In his first move after the acquisition, Musk has fired the CEO of Twitter – Parag Agrawal, CFO Ned Segal, General Counsel Sean Edgett, and Head of Legal Policy, Trust and Safety Vijaya Gadde.
This deal ends months of legal battle between Twitter and Musk that cropped up ever since he agreed to acquire majority stakes in the social media platform for a $44 Bn.
The reported firings of top executives follow news that Musk planned to eliminate nearly 75% of Twitter’s staff in an effort to pay down the company’s debt. Musk later dismissed those reports, telling employees he would not implement such a large scale measures against the existing resources.
Twitter currently plays an important role in the political and media landscape due to its following among journalists, commentators, celebrities and politicians. The future of the platform and its policies are likely to witness major changes under Musk’s regime.