Twitter workers brace for more ‘circus’ after Elon Musk torpedoes deal
The Hindu
Musk said Twitter breached multiple provisions of a $44 billion merger agreement struck in April
Twitter Inc employees expressed disbelief and exhaustion on Friday after billionaire entrepreneur Elon Musk said he was terminating a deal to buy the social media company in what could be the start of months of legal wrangling.
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Musk said Twitter breached multiple provisions of a $44 billion merger agreement struck in April, including by failing to turn over sufficient data on spam accounts and letting go of some executives and recruiters. Twitter's chairman said the board planned to pursue legal action to enforce the deal.
Engineers, marketing leaders and other staff at the company quickly took to Twitter to publicly post memes, such as of a rollercoaster ride and a baby screaming into a phone, in apparent commentary on the latest development in Musk's courtship of Twitter since January. Others joked about the impossibility of breaking their own personal commitments.
Employees have expressed widespread concern about Musk taking over Twitter because of his preferences for cutting headcount and other costs, decreasing content moderation and limiting remote work.
But Musk's now-reneged offer also marks a 36% premium for the company's shares and could mean a big payday for employees and other shareholders. After months of constant headlines, a Twitter employee told Reuters on Friday that they felt only more weary about the road ahead.
"I just don’t believe it’s actually over," the employee said on the condition of anonymity.
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