After Musk took control of Twitter late last week in a $44 billion deal, he fired the entire board of directors.
The board of directors fired by Musk consists of Agrawal, who is CEO, general counsel Sean Edgett, chief legal officer Vijaya Gade, chief financial officer Ned Segal and other members.
The American billionaire began what Western newspapers described as a mass shooting of Twitter employees, following a decision to lay off more than 3,000 employees. Layoffs have swept the company's offices around the world, including operations that control misinformation and harmful content.
The new Twitter management justified the decision as an attempt to put Twitter on the right track, which requires going through a difficult process of reducing the global workforce, and an attempt to increase revenues on the social media network that has historically struggled to achieve profit. She added that there is no other option when the company loses more than $4 million a day. With a guarantee of compensation for dismissed employees for 3 months, which is more than 50%, the amount legally required.
Management sent emails to employees stating that it would temporarily close the company's offices by canceling employees' access permits and canceling access to customer services and Twitter systems.
The US labor law, WARN, prohibits mass layoffs of employees without 60 days' prior notice. Which prompted some angry employees to file a class-action lawsuit against Twitter management, claiming that they did not receive sufficient notice of their termination.
All of this prompted major companies such as Pfizer and General Motors to temporarily stop advertising on the platform in protest against the mass layoffs of employees without warning. A number of amendments are expected to be introduced on the platform, including starting to charge people fees for the right to display the blue Twitter verification check mark on their profiles.
Twitter may charge $8 per month for a tag, though it's impossible to say how many users would actually be willing to pay for it.
It seems that many changes are coming to Twitter but the exact nature of these changes as of now is still unknown.
