In a tweet on Saturday LightShed analyst Rich Greenfield said Musk fired top Twitter execs "for cause," preventing their unvested stock from vesting as part of a change of control.
Billionaire and Twitter's new owner Elon Musk reportedly fired top management of the social media platform as he wanted to avoid hefty severance payouts, said media reports. The reports also hinted that Musk may be planning mass layoffs at the social media giant.
Musk fired Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde on completion of a high-profile $44 billion buyout of the social media platform on Thursday.