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Twitter CEO Says It’s Business as Usual Until Deal Closes

  • Agrawal addresses workers by video after acquisition announced
  • Stock will continue to vest, no job cuts for now, CEO says
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WATCH: Jasmine Enberg of Insider Intelligence and Bloomberg’s Michelle Davis discuss what we know so far about Musk’s purchase of Twitter.Source: Bloomberg
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Twitter Inc. Chief Executive Officer Parag Agrawal and Chairman Bret Taylor told employees on Monday that the social network will keep operating as usual -- including with Agrawal at the helm -- until the deal to sell the company to Elon Musk for $44 billion closes later this year. 

The deal was signed Monday morning, Agrawal told workers, adding that Musk’s transaction to take the company private could take as long as six months to complete, according to two people with knowledge of the meeting’s details. The CEO told staffers there would be no job cuts “at this time,” and when asked about a potential hiring freeze, Agrawal said the company was still working through hiring plans before the deal officially closes.