Elon Musk Begins Mass Layoffs At Twittter

[RetiredAt49]

Employees will receive an email tomorrow morning (either to their personal or company email account - depends if they still have a job)…

I was laid off once - it sucks!

https://finance.yahoo.com/news/elon-musk-to-start-mass-layoffs-at-twitter-on-friday-005242825.html

 

[NW-Bound]

... And the remaining 50% of employees have to work harder to turn a profit.

I just read that Musk borrowed $13 billion in the deal to finance the purchase. This debt is now on the company's book. It carries an interest payment of $1 billion per year.

Twitter now has to make that much just to pay the debt. Perhaps it's better to be laid off than work 80 hrs/week to make that money for the company debt.

 

[cyber888]

He paid $44 Billion, so it is going to take a very very very very very very long time to get that money back charging $8 for user verification. He will have to lay off 90% of Twitter to save millions in salaries and get his money back

 

[Jerry1]

Yeah, word reported on the internet is that he expects employees to work 12 hours, 7 days per week. That’s how you get the best out of people. I don’t think he’s a big proponent of working from home either. If that was expected to be temporary and for a reason everyone could get behind, then I could see it. But if it’s not something like the next moon landing, it’s just going to get more people to quit and those that stay will no way be giving their best. Owners sometimes forget that their employees don’t feel the same way about the company as they do. To some, it’s just a job. Especially with a generation that seems to place a higher value on their personal time than in the past.

 

[NW-Bound]

Musk's original Twitt about buying Twitter will go down in history as the most costly post ever.

So, let that be a lesson to everybody. Think how much your Twitt can cost you before hitting "Return". Don't drink or smoke pot, then Twitt.

 

[NW-Bound]

... Owners sometimes forget that their employees don’t feel the same way about the company as they do...

Of course not. Do employees get billions for potential payout as the owners?

I would say "Scr*** you! I am outta here."

 

[daylatedollarshort]

Tech people still seem to be in demand. I'm not sure why anyone in a high demand field like many of the Twitter employees would work 80 hours a week.

 

[REWahoo]

Employees will receive an email tomorrow morning (either to their personal or company email account - depends if they still have a job)…

... And the remaining 50% of employees have to work harder to turn a profit.

Yep, Tomorrow Twitter employees get an email to learn their new status: loser or victim.

 

[Freedom56]

To pay $44 billion for a company with $4 billion in revenue was absurd. Twitter has been losing high frequency users for a long time. The only winners were the executive who were terminated with golden parachutes and the shareholders who are laughing all the way to the bank. Online advertising is slowing down and advertisers are starting to flee the platform. Musk should focus on EVs and Rockets and leave the dysfunctional world of social media behind.

 

[tmm99]

Yeah, word reported on the internet is that he expects employees to work 12 hours, 7 days per week. That’s how you get the best out of people. I don’t think he’s a big proponent of working from home either. If that was expected to be temporary and for a reason everyone could get behind, then I could see it. But if it’s not something like the next moon landing, it’s just going to get more people to quit and those that stay will no way be giving their best. Owners sometimes forget that their employees don’t feel the same way about the company as they do. To some, it’s just a job. Especially with a generation that seems to place a higher value on their personal time than in the past.

If the layoff comes with a severance package, I'd rather get laid off than having to work 12 hours 7 days a week... Karoshi and lawsuits in the making.

 

[skipro33]

Wow!
The man has single handedly advanced space travel by 50 years, put electric cars into the realm of reality, on the path of fueling every home with rechargeable batteries and all I read is rumors of how bad he is going to be to the employees of Twitter before having done anything of the sort yet. How come so much hate for someone that has done so much good on just rumor and speculation?

 

[NW-Bound]

Wow!
The man has single handedly advanced space travel by 50 years, put electric cars into the realm of reality, on the path of fueling every home with rechargeable batteries and all I read is rumors of how bad he is going to be to the employees of Twitter before having done anything of the sort yet. How come so much hate for someone that has done so much good on just rumor and speculation?

With all due respect, if he has single-handedly done all these good things, he can then do all the work at Twitter himself, and does not these pesky ungrateful lazy workers.

Lay them all off!

 

[skipro33]

With all due respect, if he has single-handedly done all these good things, he can then do all the work at Twitter himself, and does not these pesky ungrateful lazy workers.

Lay them all off!

Don't put words in my mouth.
I didn't say he did anything single handedly. Obviously he knows how to motivate people to advance rockets, electric cars and batteries, so why would anyone automatically assume he's going to treat employees of Twitter with anything less than he's proven with those companies he's been successful with?

BTW, what the heck is Twitter anyway? From what I've heard, the world would be a better place without it. Maybe he can turn it into something useful.

 

[tulak]

Musk is polarizing. I’m actually optimistic that he can turn Twitter into a decent business, even if he doesn’t recoup his investment. He has a good track record.

Beyond layoffs, I suspect there will be a lot of people leaving. He doesn’t like remote work and the reality is most tech workers won’t go
back unless they’re forced. The rumors are that he’s going to require employees to go back to the office. Still plenty of work out there, so I suspect a lot of people that aren’t laid off will leave. Time will tell.

 

[Irishgirlyc58]

This isn’t 2008 when people couldn’t buy a job.
These tech people have options and I’m sure the motivated ones have been putting out feelers on potential jobs.
Why should they sit in a building when everything they do can be done from home? Control. Dude’s gotta be a control freak.
I’m not convinced that he motivated people with the rocketship or whatever it was. I think it’s more likely the project/accomplishment itself.
I’m also not “into”cars but I’ve always heard what a hot mess Teslas are. Sure are a lot of them on the road these days.

I don’t like Musk- he seems to think he is better than others because he has money. Money does not make you a good person.

I love Twitter. It is absolutely the best place to actually get a response from a company when all else fails. It’s worked for me with Verizon and Comcast along with various others.
He better not screw it up!

 

[RobbieB]

Happy to report that I've never tweeted. And never will -

 

[skipro33]

I don’t like Musk- he seems to think he is better than others because he has money. Money does not make you a good person.

This is a symptom of a medical condition he has called Asperger's Syndrome, a form of autism.

I've known a few who have this and they can be very condescending and insufferable. Sorta like Sheldon on BBT, but not as likable.
.

 

[SecondAttempt]

I have no opinion of Musk. I think many people have strong opinions. I do think he is a visionary in many ways and has done quite well for himself from much humbler beginnings.

I don't use Twitter but it seems to me that it is basically a "built" platform that likely has a lot of deadwood leftover from when it was actively building and needed a lot more people. So it makes perfect sense to me that he is doing a purge to cut costs and looking for ways to produce revenue.

But it is unfortunate that he seems to be intent on being an a$$#0le about it! He may have a beef with the executives but the rank and file employees never did anything to him.

 

[Irishgirlyc58]

This is a symptom of a medical condition he has called Asperger's Syndrome, a form of autism.

I've known a few who have this and they can be very condescending and insufferable. Sorta like Sheldon on BBT, but not as likable.
.

Yeah- I thought he was probably on the spectrum but I never did see any confirmation- not that I was looking for it.
I believe Bill Gates is also on the spectrum but I don’t get the same vibes from him- doesn’t mean they aren’t there.

I love Sheldon! Jim Parsons makes me laugh every time no matter how many times I’ve seen the episode.

 

[Irishgirlyc58]

I have no opinion of Musk. I think many people have strong opinions. I do think he is a visionary in many ways and has done quite well for himself from much humbler beginnings.
.

His family was wealthy so he started out on third base. He is certainly smart but lots of people are. Having money just affords you the ability to expand your strengths.

 

[HawkOwl]

Yeah, word reported on the internet is that he expects employees to work 12 hours, 7 days per week.

I find this hard to believe.

 

[NW-Bound]

A law suit has been filed against this mass lay off.

The class action lawsuit filed Thursday alleges Twitter is in violation of the federal Worker Adjustment and Retraining Notification Act (WARN Act) after laying off some employees already.

The WARN Act requires that an employer with more than 100 employees must provide 60 days’ advanced written notice prior to a mass layoff “affecting 50 or more employees at a single site of employment.”

 

[NW-Bound]

Happy to report that I've never tweeted. And never will -

I don't have a Twitter account either.

However, same as everybody, I have seen plenty in the media reposts of all sorts of outrageous or silly proclamations from celebrities and politicians.

You don't have to be there to know who is saying what. It's a channel for people to shoot their mouth off. If not Twitter, then there would be some other places.

 

[latexman]

I don't Twitter, never have, probably never will. But, I am quite curious to see if Elon Musk's pay-to-play model eliminates a lot of the bad things one hears about Twitter, like all kinds of hate speech, trolls, bots, scams, etc. Kinda like the old way of businesses raising rates or the cover charge to keep the "riff-raff", or trouble-makers, out. So, I'll be following this.

 

[target2019]

I don't have a Twitter account either.

However, same as everybody, I have seen plenty in the media reposts of all sorts of outrageous or silly proclamations from celebrities and politicians.

You don't have to be there to know who is saying what. It's a channel for people to shoot their mouth off. If not Twitter, then there would be some other places.

One of the few uses I found for twitter was to post about a product problem. Most companies were very agressive in replying and trying to find a solution for your problem.

However, I won't miss being a twitterer at all. I found Reddit to be a better chaotic maelstrom.