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TWITTER OFFICES ARE shutting down and employees are leaving in droves following an ultimatum from Elon Musk on Wednesday. The CEO asked Twitter employees to either commit to an “extremely hardcore” culture at the company that involves “long hours at high intensity” or leave with severance, the Verge reported. Anyone who did not sign the pledge by 5 p.m. ET Thursday would reportedly receive three months of severance pay, The Washington Post reported. Hours before the curtain call, hundreds of resignations rolled in, according to the New York Times. And as waves of employees opted for the three months severance pay, Twitter later announced via email that it would close its office buildings and disable employee badge access until Monday. Before the Thursday deadline, Musk and his advisers held meetings with “critical” Twitter employees in an attempt to dissuade them from leaving, reports say. He also seemed to retreat on his stance on not allowing people to work from home in confusing messages about the company’s remote work policy. The Twitter exodus follows the growing list of changes that have fallen on the company since Musk’s $44 billion takeover. Earlier this month, Musk fired top executives, slashed off half of the workforce, and fired any remaining staff who dared to bruise his ego on Twitter. |
Also his reputation has taken a massive hit and so has Tesla as a result. We’re looking at one of the biggest business disaster in history.
And begging 10% of vital employees....to stay....I am sure with nice bonuses etc......will prove to be a great move.
I suspect will make Twitter very profitable.
Preventing anyone from accessing vital programming so Twitter continues working....seems reasonable.
I’d like to see the examples of employees who trashed their CEO on social media and didn’t get fired.
Agree...
These people were not working. There are probably about 50 people total who will need to be kept. They do not manufacture anything.
It is a website... period. It needs to work. You have people monitoring. You have people who are involved with advertising sales.
The prior owners turned it into an unsustainable resource sucking machine. Stock holders had no idea what was happening there. All of these useless employees leaving is the best thing that can happen.
Yep. Fuck Twitter.
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If Musk completely burns down Twitter, he might have done more for humanity since the invention of the internet. This is Nobel Peace Prize shit. The world was fine before Twitter, it will be just fine after it.
Yep. Fuck Twitter.
Twitter and Facebook are responsible for so much of the horrible shit today.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
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I’ve never seen a CEO get rid of this many shitty employees in this amount of time. I think when it shakes out these decisions he’s making is going to work out just fine.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
How is this any different than a new GM and HC in football that comes in and get rid of as many people as possible? Fans are always calling for that to happen.
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I’ve never seen a CEO get rid of this many shitty employees in this amount of time. I think when it shakes out these decisions he’s making is going to work out just fine.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
I know you did not ask me and your question was directed to cjac. However, here is my answer..
1. There are videos out there of twitter employees sharing how their day is filled with nothing and virtually no work. Breakfast time, nap time, etc. You can see it for yourself. They created a culture of entitlement.
2. He did not fire anyone. He said (in summary), if you want to stay here you will need to commit to working hard. If you dont want to work hard, you can quit and get a severance package. So, the shitty or lazy employees are flushing themselves out by quitting. Anyone worth keeping is not afraid of hard work and is likely choosing to stay. There is NOBODY working there who cannot be replaced with someone better. Now, Twitter can hire who they want. It is a huge win.
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I’ve never seen a CEO get rid of this many shitty employees in this amount of time. I think when it shakes out these decisions he’s making is going to work out just fine.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
Seems to be working pretty well without all these people, isn't it?
I would say, that if the company calls you back in and you refuse, then you are probably pampered. I understand how it is nice to be able to work from home, but the reason has ended. You know as well as I do that it is much easier to "fuck off" while at home than it is from the office - you know - like putting in your eight hours.
Yes, Elon is a bull in a china shop at the moment. He is used to people building something and creating products vs a people centered comms company. I would bet his people skills suck, but I also bet he works his ass off and expects his employees to do so, too. The people that left, pretty obviously, did not want to commit to his type of work ethic. But as you know, nature abhors a vacuum, and there will be people that will take those jobs. I will also bet the pay scale goes up when the deadwood leaves. Less people means more available money in the payroll(a lot apparently).
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I’ve never seen a CEO get rid of this many shitty employees in this amount of time. I think when it shakes out these decisions he’s making is going to work out just fine.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
i originally invested in twitter when it went public. After a really deep dive into what was going on
, i got out, i did not own the stock for very long at all. So i actually did some work here.
You can assume whatever you like about me.
Also, you come off as a sanctimonious jerk
Musk allows employees back to Twitter - ( New Window )
The same can be said for employees in tech companies. It's really important to keep the site up and free of BS that will keep advertisers away. I have no idea what the staffing requirements at Twitter should be. But if the site becomes toxic to advertisers for reasons of public image or technical issues...The party is over.
This assumes he was looking at this purely as a business investment. He would not be the first billionaire who was spending money to shape culture.
Just think about how much money billionaires spend to fund "initiatives" they believe in which have no monetary return for them.
If Twitter provides companies with access to people and the advertising dollars return an investment for them, there will ALWAYS be advertisers. The companies that put ideology before profits will probably stay away for a while... but they will eventually be back.
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In comment 15911672 allstarjim said:
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If Musk completely burns down Twitter, he might have done more for humanity since the invention of the internet. This is Nobel Peace Prize shit. The world was fine before Twitter, it will be just fine after it.
Yep. Fuck Twitter.
Twitter and Facebook are responsible for so much of the horrible shit today.
yeah, I couldn't agree more, it's definitely the technology, those apps are responsible for it, not the human beings who actually misuse those sites to say or do horrible things.
It's like when I see a drunk driver I immediately blame cars.
People in America, or maybe everywhere I don't know, have a convenient habit of blaming inanimate objects incapable of carrying out actions for a lot of bad human behavior.
Why wouldn't it survive? It was a one way street to begin with. Only difference is that it is not a one way street now. A large percentage of the traffic that was excluded before can participate while the other 50% is still able to participate. Probably a net gain of available participants.
Seems to me advertisers would like to reach a larger percentage of the population.
It reminds me of this scene from Howard Stern's Private Parts movie when they were discussing the ratings. I think Elon Musk and Twitter may fall into this category.
Watch the very short video
Movie clip - ( New Window )
The same can be said for employees in tech companies. It's really important to keep the site up and free of BS that will keep advertisers away. I have no idea what the staffing requirements at Twitter should be. But if the site becomes toxic to advertisers for reasons of public image or technical issues...The party is over.
Do you work in tech? I have worked in tech for 30 years - everything from "brick and mortar" tech which seems like an oxymoron but its not to 25 person start ups), and I have never once worked in a tech company who kept people around for "when shit hits the fan" - people have jobs or they're excess margin and get let go.
Many tech companies actually do have "fat" though and when time comes they trim the fat (ask anyone who works at IBM about this - they do it every quarter), and maybe tech doesn't run quite as lean as something like retail, but it seems like the picture in your mind of firemen hanging out in a fire dept waiting for a fire to put out and equating it to tech is about as big a miss as possible (in my experience).
I do know people who work at twitter and I read a lot about them on places like glassdoor and it sounds like a country club.
I don't know Musk's plan, but if I had to pick a way this turns out, I'd side with Musk over the less informed, experienced, and leveraged opinions on here (or anywhere).
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It’s not going to be worth anything close to $44 billion. Musk took a massive hit anyway you look at it.
Why wouldn't it survive? It was a one way street to begin with. Only difference is that it is not a one way street now. A large percentage of the traffic that was excluded before can participate while the other 50% is still able to participate. Probably a net gain of available participants.
Seems to me advertisers would like to reach a larger percentage of the population.
https://www.grid.news/story/technology/2022/11/15/internal-twitter-documents-show-scope-of-advertisers-questions-about-elon-musks-policies/
Yeah advertisers are loving this.
People in America, or maybe everywhere I don't know, have a convenient habit of blaming inanimate objects incapable of carrying out actions for a lot of bad human behavior.
Well said
The one major change he has made that I think he will back off or should back off is the work in the office policy.
I don't know how broad that goes (like into which roles) but it's just unnecessary for many roles and COVID has shown that companies, like Twitter, can survive (and thrive) with full WFH.
Yes.. if you have the right people with the right work ethic.
Another way around this is to have very measurable hurdles and reviews for employees. Establish targets that would prohibit them from just playing video games at home.
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COVID has shown that companies, like Twitter, can survive (and thrive) with full WFH.
Yes.. if you have the right people with the right work ethic.
Another way around this is to have very measurable hurdles and reviews for employees. Establish targets that would prohibit them from just playing video games at home.
yep, it's not a good fit for everyone.
I also feel like some functions could simply benefit from being together while they work.
I have some customers where people couldn't wait to get back in the office and others who are scrambling to sell or sublease millions of dollars of office space because no one is coming back to an office regularly (and they're fine with it).
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But I imagine many jobs required a high degree of technical knowledge. Firefighters can screw around when there is not a fire or emergency. Excess staff is there when the shit hits the fan.
The same can be said for employees in tech companies. It's really important to keep the site up and free of BS that will keep advertisers away. I have no idea what the staffing requirements at Twitter should be. But if the site becomes toxic to advertisers for reasons of public image or technical issues...The party is over.
Do you work in tech? I have worked in tech for 30 years - everything from "brick and mortar" tech which seems like an oxymoron but its not to 25 person start ups), and I have never once worked in a tech company who kept people around for "when shit hits the fan" - people have jobs or they're excess margin and get let go.
Many tech companies actually do have "fat" though and when time comes they trim the fat (ask anyone who works at IBM about this - they do it every quarter), and maybe tech doesn't run quite as lean as something like retail, but it seems like the picture in your mind of firemen hanging out in a fire dept waiting for a fire to put out and equating it to tech is about as big a miss as possible (in my experience).
I do know people who work at twitter and I read a lot about them on places like glassdoor and it sounds like a country club.
I don't know Musk's plan, but if I had to pick a way this turns out, I'd side with Musk over the less informed, experienced, and leveraged opinions on here (or anywhere).
Nope. Never worked in Tech. And I did state I have no idea what staffing levels at twitter need to be. But most companies in service industries are going to staff to ensure they meet peak expected demand. These cuts at Twitter and other tech companies might not affect service at all. Time will tell.
Hilarious. Musk's "free speech on twitter" was the exact opposite thing advertisers (Twitter's main source of revenue) wanted to hear -- which is why a lot of them reduced their spend -- at the same time that Musk saddled the company with $13 billion in new debt. So, revenue is down, he fired at least half he staff hired to keep advertisers happy, and he owes billions in interest payments soon.
Just a brilliant genius.
He can also be a smart visionary who has created some cool things and shepherded in some new ideas.
I'm pretty sure he got hosed in the twitter deal though and is out of his depth here but he'll still be fine.
It's his money he can do what he wants but I remember when he said he could take 6 billion and end world hunger.
A lot of people in our culture seem to celebrate others who act outrageous and troll other people I don't really see the benefit to society at large.
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I’ve never seen a CEO get rid of this many shitty employees in this amount of time. I think when it shakes out these decisions he’s making is going to work out just fine.
Please explain in the space below how exactly you are privy to the work ethic of the employees that have departed twitter, and also how you know which ones left, which did not, and which ones were shitty.
Unless you are talking out your ass because this sort of comes off as "old conservative guy hates twitter and likes rich people".
Go...
I have no idea of their work ethic but the company from an actual business standpoint prior to Musk was an utter failure. When you don’t make money you are a failure. They we’re losing millions and millions. Musk May. E an egotistical loon but I’ll go w his instincts in business over yours and a bunch of employees whose 3 month severance checks will be gone in a month in this economy.
Good luck finding a job folks inthe tech sector right now. Musk risked billions and people who helped drive Twitter into financial ruin are your hero’s ?
He didn’t buy Twitter to keep in its current format. It’s going to decrease in value in the short term. Long term he has a ton of options on where to take it and that will open up a lot of options to make it even more valuable. Twitter today won’t be the same as Twitter 5 years from now.
tech companies do not hire for peaks they (most companies) just expect people will do more during any extraordinary events that require more people involvement.
But most peaks events or activities a tech company experiences require hardware or infrastructure expansions not humans (just look at what happened with ticketmaster on this Taylor Swift disaster (I have a 15-year old daughter so that's why I know this), but - just as an example - there was nothing more people were going to help with and that I believe was the biggest "crowd" attempting to access ticketmaster and live nation (?) ever.
Now, some will argue how Musk was out of his depth with PayPal and Thiel was the brains there, and you'd be right from what I have read, but point is it's not like tech is new to him, it's basically where he started - not with Tesla or SpaceX
Musk is firmly stating where his social and political views align. He is entitled to do that. But it seems moronic for him to take sides when so much of his business empire (Tesla, Twitter, Space-X) is at stake. These companies are firmly attached to his name. He may think it is fun triggering progressives, but ultimately they are buyers of his vehicles and the ones advertisers avoid pissing off.
Tesla is no longer the only game in town and by most measures is an inferior product at this point. Twitter will not survive as a vehicle for hate and divisiveness. Advertisers are not going to throw money at unmoderated platforms.
Hilarious. Musk's "free speech on twitter" was the exact opposite thing advertisers (Twitter's main source of revenue) wanted to hear -- which is why a lot of them reduced their spend
Twitters toxic environment and false user numbers also may be why so many other companies never wanted to advertise on Twitter in the first place. If you remember, Must exposed the issue with the bots well before the purchase date.
For all you know, the changes that will unfold over the next couple of years could actually bring in more (yet different) companies who are willing to advertise. Not to mention other ways to monetize the platform that have yet to be realized.
Maybe you should spend some money today at the market opening and short the Twitter stock. Hold it for a few years and see how much you make.
And very early on, has made some critical mistakes as owner of Twitter.
I think in the end he'll find a compromise with himself and Twitter to make it work.
+1
tech companies do not hire for peaks they (most companies) just expect people will do more during any extraordinary events that require more people involvement.
But most peaks events or activities a tech company experiences require hardware or infrastructure expansions not humans (just look at what happened with ticketmaster on this Taylor Swift disaster (I have a 15-year old daughter so that's why I know this), but - just as an example - there was nothing more people were going to help with and that I believe was the biggest "crowd" attempting to access ticketmaster and live nation (?) ever.
Lots of people predicting Twitter demise. I don't see it that way. More likely, it seems like Twitter will just struggle and ride out a bumpy road to becoming a generally worse service. It seems incredibly unlikely that he'll make back his investment. That's fine, I'll just find another place to see Woj bombs at the NBA trade deadline.
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Hilarious. Musk's "free speech on twitter" was the exact opposite thing advertisers (Twitter's main source of revenue) wanted to hear -- which is why a lot of them reduced their spend
Twitters toxic environment and false user numbers also may be why so many other companies never wanted to advertise on Twitter in the first place. If you remember, Must exposed the issue with the bots well before the purchase date.
For all you know, the changes that will unfold over the next couple of years could actually bring in more (yet different) companies who are willing to advertise. Not to mention other ways to monetize the platform that have yet to be realized.
Maybe you should spend some money today at the market opening and short the Twitter stock. Hold it for a few years and see how much you make.
And how many people did he fire were working n content moderation and bots? All of them?
But yes, I forgot to consider all the advertisers willing to spend money on ads so they can appear next to someone saying “ I [heart] Nazis!!!!!” Just a brilliant business strategy.
And that’s leaving aside all the regulators who have the knives out. As far as I can tell, the FTC, FCC, and the SEC are all “concerned,” whoopsie! After Musk rolled out the idiotic “anyone can be verified” and someone tanked the Eli Lilly stock, I’m sure the board of that multi million dollar company who lost billions in value are just going to do nothing.
Sorry, I don’t time the market. Go ahead and buy boy genius’ stock. See what happens.
The reality is all these tech companies are about to get slaughtered and 2023 is gonna be a year of change and reinventing. Too many of these companies have 50/1 P/E ratios for no reason (including Tesla)