A memo obtained by the New York Times shows that two of the company's top leaders are leaving and that it will freeze most new hiring.
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Bruce Falck, the general manager for revenue, will leave the company, according to the memo.
Beykpour said it was not his decision to leave, while Falck said he wanted to take the team in a different direction.
Jay Sullivan, who was the vice president of consumer product, would replace Beykpour, according to the Times.
Sullivan's ability to inspire, move quickly and drive change is what the company needs now, according to the memo.
The company will freeze most hiring and cut other costs, according to a memo.
According to the memo, the war in Ukraine and supply chain disruptions have hurt the company.
Forbes asked for comment from the social media company.
The company was in limbo after Musk made a $44 billion offer to acquire the social media network. The billionaire wants to solidify his funding. According to the memo, the company is not considering layoffs and may make some exceptions to its hiring freeze for important business roles. According to the reports, the company was forced to make cuts because it failed to meet audience and revenue growth goals. Musk has promised to make big changes to the social media site if his bid is completed, including by reducing the company's reliance on ad revenue and increasing its payments business, according to a pitch desk he presented to investors. In recent weeks, Musk has taken aim at some executives on the platform, including the top lawyer at the social media company. He said this week that he would lift the ban on former President Donald Trump.
955 million. The Times reported last week that Musk wants to have four times the number of users at the end of the year as he did at the beginning. He promised to triple the company's revenue in that time.
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