After Elon Musk steps down, Twitter employees say no one is in charge

The decision toElon Musk, July 8, to unilaterally withdraw from the $44 billion acquisition of Twitter may have violated the terms of its takeover agreement and confused the general public. She also caused chaos in the ranks of Twitter.

“Twitter is a real internal circus; I can confirm that to you without a doubt,” said a Twitter employee, on condition of anonymity as he is not authorized to speak to the media.

Narrative : Elon Musk’s war with Twitter escalates

He is far from the only one to be of this opinion. “There is no strong leadership right now,” adds a second current Twitter employee, still on condition of anonymity. “The whole company is on autopilot.” A third, who is about to leave the company, is just as exasperated. “I would like someone to put pressure on Elon, because I think it is a risky precedent to allow him to interfere so much, drive the stock down and then walk away. »

Twitter staff were told not to speak publicly on their own platform about the takeover – and said they were kept in the dark. “The general management did not tell us anything”, confirms the first employee. Internal communications on the latest developments were limited to a post directing users to a tweet from the company’s president, Bret Taylor, who Declare that Twitter’s board “commits to complete the transaction at the price and terms agreed to with Mr. Musk and plans to take legal action to enforce the merger agreement.”

Employees have been asked not to give their opinion on what is happening in the company. “Every time I learn something on Twitter, I learn it on Twitter,” says the first employee. “I learned about Musk from friends, not my own company – which has been an ongoing issue from the start. Twitter declined to comment.

The case looks set to end up in court. Twitter has hired Delaware litigation law firm Wachtell Lipton to make sure Musk keeps his end of the bargain. At the time of his tweet, Mr Taylor said he was “confident” the company would prevail. Former Twitter CEO and Chairman Evan Williams said that he thought Twitter should cut ties and “let this inglorious episode die down”.

“For Twitter, this fiasco is a nightmare scenario, and Parag [Agrawal, PDG de Twitter] and its associates will have to climb an Everest-like mountain to meet the myriad challenges ahead,” said Dan Ives, managing director of Wedbush Securities, a New York-based analyst firm. Some of the challenges Twitter faces include employee turnover and low employee morale, issues with advertising headwinds, loss of credibility with investors due to the ups and downs of the stock price. action, and damaging claims about fake accounts on the platform.

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