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Going from no/mild layoffs under Parag’s leadership to 50% layoffs under Elon in a week. How do y’all think Elon handled as Twitter boss in his first week? #software #engineering #Twitter #layoffs
Debt interest is $1B per year, layoffs cut about $1B per year in TC. It’s pretty straightforward what he’s doing.
Here's an idea, layoff 75%, then you cover your debt and get $0.5B of savings too ?
Depends on the company. There is an efficient frontier of productivity for each co. The point I was making is this is a pretty standard LBO model. 1. Acquire w/ debt 2. Cut costs 3. Streamline 4. Sell Except Musk seems to have plans to increase revenues and profits too. Not saying it will work but this is the blueprint.
Twitter employees are not the only employees getting laid off during the last 6 months. The twitter stock has not tanked 60-70% this year only because of Elon acquisition. People getting laid off will at least have their stocks and unvested stocks (next 3 months) for unreasonable price during this market times. So people who are not at twitter can save their tears for employees getting laid off at Lyft or other tech companies who had their stock crashed 70%.
Seriously, how tf is this not obvious to everyone? What’s with the doom and gloom over Twitter in particular? They got a FANTASTIC deal — better than they could have possibly hoped for otherwise. Elon liquidated them at an insanely inflated price. Everyone is laying off but they didn’t get this luxury.
Agreed. But, not everyone’s after money, there are employees who want stability and not deal with layoffs. Much needed in this crazy market.
Fucking moron... look at this communication sent to Twitter employees https://twitter.com/WillOremus/status/1588336115031117824?t=0LscWFDNf9YHPej8EBvK-w&s=19 offices will be temporarily closed 😬
That’s messed up
Sounds like he launched a coup
Making Twitter great again.
If the rumors are true as a Boss he sucks because he is laying off many and making the rest work like donkeys. But for himself and the investors and banks who bought Twitter with him he did a great job. He is trying to quickly turn Twitter profitable.
Good
75% would have been a better number. Come on, these people don’t do much real work. It is better they find a real job out there.
How is Okta ? I’ll remember to ask you to find a real job too when they start laying off.
I do a lot of real work, not banning people for saying something I do not like. Even if Okta lays off 90% of the engineers, I am safe.
Probably bankrupts himself in 3 years
Lose lose for us. At least he can’t run for President like the last broke former billionaire
Faster.