Employees of the company have been furious after Tesla company owner Elon Musk ended a $44 billion Twitter deal. Many employees have taken out a lot of anger on social media. Some employees accused Musk of taking steps to reduce the purchase price, while some accused them of cheating. Let us tell you that on Saturday, Musk’s team announced the termination of the $ 44 billion Twitter purchase deal in a letter. Musk decided to postpone the deal due to several breaches under the purchase agreement.
Twitter Board Chairman Brett Taylor said in a tweet that the Twitter board is committed to closing the transaction at the agreed price and terms with Elon Musk and plans to take legal action to enforce the merger agreement.
Twitter employee Amir Shevat wrote that he works on the company’s developer products. The termination of the Twitter deal marks the end of a curious situation that has been going on for the past four months.
Jared Manfredi, who works on iOS products on Twitter, wrote that it was the arbitrariness of Musk, who had been repeatedly whispering over the past four months to reduce the purchase price. That said, this deal was like a circus, which has now come to an end.
There are reports of massive employee layoffs on the micro-blogging site Twitter. On Thursday, Twitter said that the company had shown the way out of about 30 percent of its talent acquisition team (HR team). On behalf of the company, it has been said that this step has been taken as part of the increasing business pressures on the company and the ongoing process of Elon Musk’s acquisition of the company.