The future of Twitter is uncertain after the deal to be taken private under billionaire Elon Musk closes, the CEO of the social media platform told employees on Monday.
Twitter CEO Parag Agrawal was speaking during a companywide town hall meeting that was heard by Reuters.
Musk will join Twitter staff for a question-and-answer session at a later date, the company told employees.
Twitter announced on Monday it has accepted the Tesla CEO’s buyout deal worth $44 billion in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world’s richest person.
It is a seminal moment for the 16-year-old company that emerged as one of the world’s most influential public platforms and now faces a string of challenges.
As Agrawal listened to staff questions about Musk’s plans for the company, the possibility of layoffs and the board’s rationale for the deal, he deferred many questions as ones that should be asked of Musk.
Musk has said he believes Twitter should be a platform for free speech. Employees asked Agrawal whether former U.S. President Donald Trump, who was permanently suspended from Twitter last year, would be allowed to return once Musk takes over.
“Once the deal closes, we don’t know which direction the platform will go,” Agrawal said, referring to the question regarding Trump. “I believe when we have an opportunity to speak with Elon, it’s a question we should address with him,” he added.
Agrawal also told employees there were no plans for layoffs.
Bret Taylor, chair of Twitter’s board of directors, aimed to reassure employees that the agreement with Musk prioritized “operating continuity” until the deal was closed.
“I think we feel very comfortable that (the deal) gives this team the ability to continue to make the company successful in between signing and closing the transaction,” Taylor said.
