Troubles just don't seem to be ending for microblogging and social networking site Twitter.?While the ongoing battle between Elon Musk and Twitter heads for a trial in October, the company is facing another issue.
Twitter is facing more employee departures amidst the $ 44 billion deal deadlock, company executives told staff yesterday, as per Reuters report. The leaders sought to address multiple challenges, including whistleblower allegations and a legal battle with world¡¯s richest person Elon Musk.
Employee attrition rate is currently 18.3%, Twitter executives told staff during a company-wide meeting, audio of which was reportedly heard by Reuters. Before Elon Musk made his $44 billion offer to buy the company earlier this year, the attrition rate was lower, and hovered between 14% and 16%, which was consistent with competitors, executives had previously said.
The ongoing chaos related to the Musk takeover has caused some staff to flee, as per what current employees told Reuters.
The staff meeting was held a day after Twitter's former security chief Peiter "Mudge" Zatko said in a whistleblower complaint that the San Francisco based company misled federal regulators about its defences?against hackers and spam accounts.
Twitter is heading towards an October 2022 trial after suing billionaire Musk for attempting to walk away from the buyout agreement.
Twitter CEO Parag Agrawal moved to reassure employees yesterday that Zatko's accusations were "foundationally, technically and historically inaccurate."
During the meeting, Twitter staff submitted questions to company leaders on whether Twitter would hire or promote more junior staff members and how Twitter could be expected to hit its growth targets given the employee exodus, as per Reuters report.
"The only way for us to deliver is by narrowing our focus to fewer things and for that to be proportionate to number of people here," CEO Agrawal responded.
Also Read?Highlights & Controversies-Looking Back At?Twitter's?Journey
The U.S. Senate Judiciary Committee said on Wednesday it will hold a hearing with Zatko on September 13th 2022, the same day that Twitter shareholders will vote on whether to approve the deal with Elon Musk.
Also, lawyers for Twitter and Musk attended a hearing in Wilmington, Delaware yesterday, to decide if Twitter had to provide documents and data sought by Musk to challenge the company's estimates of spam accounts on its platform. Musk's attorneys briefly mentioned the allegations by Zatko.
"Mr. Zatko said management had no appetite to measure bots," Alex Spiro, Musk's lawyer, told the judge, as per the report. The judge said at the end of Wednesday's hearing she would consider the arguments before issuing a ruling.
Also Read:?Twitter?Spent $33 Million On Elon?Musk's?Takeover Deal
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