Elon Musk: Twitter deal is “temporarily on hold” | a job

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London (AFP) – Elon Musk said Friday that his planned $44 billion purchase of Twitter is “temporarily on hold” pending details about spam and fake accounts on the social media platform.

The announcement of the billionaire’s tweet from Tesla is another development amid indications of internal turmoil over his planned purchase of Twitter, including the social media company’s firing of two of its top managers on Thursday.

It wasn’t clear if the fake account issue could spoil the Twitter deal. Stocks in both Twitter and Tesla have swung sharply in opposite directions, with Twitter stock plummeting 18% and Tesla, which Musk suggested using to help fund the Twitter deal, jumping 5%.

Investors have had to reflect on Musk’s legal troubles, as well as the possibility that acquiring Twitter could be a distraction from operating the world’s most valuable automaker.

Twitter said Thursday that the company is temporarily halting most hiring except for critical roles in business. Additionally, she said in a statement, “We are stepping back from non-labor costs to ensure we are responsible and efficient.”

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In a note sent to employees and confirmed by Twitter, CEO Parag Agrawal said the company had yet to generate growth and revenue after the company began investing “vigorously” to expand its user base and revenue.

Musk's Declining Stock

FILE – Tesla CEO Elon Musk attends the opening of the Tesla plant in Berlin-Brandenburg in Gruenheide, Germany, on Tuesday, March 22, 2022.

Patrick Pool / Pool via AP, File

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