‘Cue the Layoffs’: Twitter Employees Frustrated After Latest Update on Musk’s Deal With the Company
Twitter employees are growing more frustrated with the saga between the company and billionaire Elon Musk. On Tuesday, Musk’s lawyer, Mike Ringler, sent a letter to Twitter sharing that the billionaire “intend to…
Twitter employees are growing more frustrated with the saga between the company and billionaire Elon Musk.
On Tuesday, Musk’s lawyer, Mike Ringler, sent a letter to Twitter sharing that the billionaire “intend to proceed to closing of the transaction contemplation by the April 25, 2022 Merger Agreement, on the terms and subject to the conditions set forth therein and pending recipet of the proceedssa of the debt financing contemplated thereby, provided that the Delaware Chancery Court enter an immediate stay of the action … and adjourn the trial and all other proceedings related thereto pending such closing or further order of the Court.”
Read the letter below:
Bloomberg noted Musk will buy Twitter at the original price of $54.20 a share.
The outlet also pointed out this move could help Musk avoid a courtroom fight.
Twitter reportedly said it received the letter and intends to close the deal with Musk.
However, employees of the company are not thrilled with the ongoing drama surrounding the deal.
CNN’s Donie O’Sullivan shared a post from one Twitter employee on the Blind app, saying, “So we’ve got an angry triggered billionaire going to own us, who’s looking for vengeance; the worst financial market in years; hiring freezes everywhere.”
The post continues, “Q4 is looking great.”
He also shared a post from Rumman Chowdhury, Twitter’s director of machine learnings ethics, transparency and accountability.
“This Twitter employee sums up what I’m hearing from folks inside the company today,” O’Sullivan added.
One Twitter employee told NBC News, “At this point, just do it or don’t.”
CNN reported one comment from an employee read, “Cue the layoffs.”
Twitter employees were not the only ones to express their concerns with the deal.
NBC News reporter Ben Collins tweeted, “For those of you asking: Yes, I do think this site can and will change pretty dramatically if Musk gets full control over it. No, there is no immediate replacement.”
He added, “If it gets done early enough, based on the people he’s aligned with, yes, it could actually affect midterms.”
Collins suggested if Musk “is really taking this site private, there are no real guardrails anymore. Rulemaking can be capricious.”
He argued Musk “can elevate any idea or person he wants through recommendations and UX choices and there will be no oversight on this as a private company.”
Former Politico Magazine editor Garrett M. Graff commented on Collins’ tweet, “Be afraid, be actually afraid.”
Musk has tweeted since the news of the deal was released.
“Buying Twitter is an accelerant to creating X, the everything app,” Musk tweeted.