Managers fired from Twitter amid Musk buyout turmoil
San Francisco(AP): Twitter fired two of its top managers Friday, the latest sign of internal turmoil amid Tesla billionaire Elon Musk's planned buyout of the company.
One Twitter general manager, Kayvon Beykpour, is leaving after 7 years. In a series of tweets Thursday, Beykpour said CEO Parag Agrawal asked me to leave after letting me know that he wants to take the team in a different direction.
Bruce Falck, Twitter's revenue and product lead, was also fired, according to a tweet that has since been deleted. His Twitter bio now says unemployed.
I dedicate this Tweet to those engineers and thank you ALL for the opportunity to serve alongside you. It's been awesome. There is a lot more to do so get back to work, I can't wait to see what you build, Falck tweeted.
Twitter confirmed both departures and said the company is pausing most hiring and except for business critical roles. In addition, it said in a statement, we are pulling back on non-labor costs to ensure we are being responsible and efficient.
Beykpour was the general manager of consumer Twitter, leading design, research, product, engineering and customer service and operations teams, according to his Twitter bio. A co-founder of the live streaming app Periscope, Beykpour joined Twitter when the social media company bought his startup in 2015.
I hope and expect that Twitter's best days are still ahead of it. Twitter is one of the most important, unique and impactful products in the world. With the right nurturing and stewardship, that impact will only grow, he said on Twitter.
Beykpour did not immediately respond to a message for comment.
In a memo sent to employees and confirmed by Twitter, Agrawal said Twitter has not hit growth and revenue milestones after the company began to invest aggressively to expand its user base and revenue.
Shares of San Francisco-based Twitter slipped 86 cents to USD45.23 midday Thursday. That's just 3 cents above Musk's offer price of USD45.20 per share.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
