Twitter Signals More Changes Amid Hiring Freeze

The day after announcing a hiring freeze and employee spending cuts, Twitter Inc.'s chief executive officer said the social media company is facing furthermore change.

Parag Agrawal, the CEO of Twitter, described himself as a 'lame duck after Elon Musk's $44 billion takeover bid, said in a tweet thread on Friday, "Regardless of the company's future ownership, we are here improving Twitter."

Agrawal added that the cuts announced on Twitter this week reflect a "very challenging macro environment." Rising inflation and Russia's invasion of Ukraine weighed on the rise after a pandemic surge.

Tesla CEO Elon Musk has also said that he was prepared for making the hardest decisions as needed going forward and that more changes on the micro-blogging platform can be expected in the future.