Elon Musk to cut 75% of Twitter staff when he takes over

[Retro]

Ah, the caring, sharing Elon Musk wants to bring misery to thousands of staff, reducing them from 7500 down to 2000. What a surprise.

Put this together with his support for returning Trump to the platform on the grounds of "free speech" (yeah, sure) and his odd support for Russia with his recent "suggestions" for brokering peace between the two and it looks like this acquisition is bad news all round.

Elon Musk told prospective investors that he plans to eliminate nearly 75% of Twitter’s staff as part of his deal to take over the social media company, the Washington Post reported on Thursday.

Job cuts are expected in the coming months no matter who owns the company, according to the report, which cited interviews and documents.

The news of Musks’s plans, should he ultimately take over the business, come at a difficult moment for Twitter. The company said in July that it had already “significantly slowed hiring” amid a wider economic downturn the tech industry, where many companies have announced recent hiring freezes and layoff.

On Thursday night, Bloomberg reported that an internal memo circulated by Twitter said there were “no plans for any company-wide layoffs”.

Elon Musk plans to cut 75% of Twitter staff if he takes over company – report

The news comes at a difficult time for the company, which had announced hiring freezes and has seen low employee morale

www.theguardian.com

 

[live627]

He overpaid. Perhaps this is his attempt to recoup his losses.

But while Twitter’s current management planned to lay off 25% of the staff by the end of next year, the new report revealed Musk wants to reduce Twitter’s 7,500 employees down to a “skeleton staff” of around 2,000 people.

This will backfire. Such a big cut will inevitably result in axing crucial talent, possibly even entire teams. Expect nothing less from cheap-ass bean counters.

The layoffs will undoubtedly have an impact on Twitter’s daily operations, including its ability to moderate harmful content and combat security issues

Less employees means less censorship, and their security issues stay unfixed. The former can be automated, but not the latter.

 

[Arantor]

But remember that in Elon’s world, any censorship is too much censorship, so he claims.

 

[live627]

I'm thinking that he'll happily continue censorship on Twitter but exclude his rich buddies. Maybe even remove some warning labels. I'm sure the CCP would appreciate that. (force him)

 

[Retro]

I'm thinking that he'll happily continue censorship on Twitter but exclude his rich buddies. Maybe even remove some warning labels. I'm sure the CCP would appreciate that. (force him)

Exactly.

Isn't it CCCP though?

 

[live627]

CCCP (disambiguation) - Wikipedia

en.wikipedia.org

СССР (Союз Советских Социалистических Республик, SSSR in Latin script) is a Russian abbreviation for the Soviet Union or Union of Soviet Socialist Republics (USSR).

 

[Retro]

Yes, isn't that what you were referring to? Worth fixing the typo, I think.

 

[live627]

Nyet.

Chinese Communist Party - Wikipedia

en.wikipedia.org

One letter makes all the difference.

 

[Retro]

Ah right, of course!

 

[Retro]

I do love how a rather serious post about thousands of people losing their jobs devolves into the inconsequential minutiae of acronyms lol.

 

[Tiffany]

It's hard to feel too bad for them because some of them are just mean.

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[Retro]

That song's perfect for that mean theme.

 

[Tiffany]

I couldn't help it...thought of TS "Mean" song, just in an instant when I thought about "some" of those "mean" twitter employees.

 

[Tiffany]

What's up with Musk walking into Twitter headquarters with a sink?

Written originally by the Daily Beast and re-posted by MSN

https://www.msn.com/en-us/news/technology/how-to-****-away-2444-billion-an-elon-musk-timeline/ar-AA13YIKg

Things were easier when the world’s richest man was simply a Twitter troll, lobbing grenades at its leadership and making juvenile references to the numbers “420” and “69.” But now the trolls have come for Musk.

Article appeared in Reuters and re-posted by Yahoo

Musk warns of Twitter bankruptcy as more senior executives quit

Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader. The billionaire on his first mass call with...

finance.yahoo.com

Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader.

What a downturn spiral Twitter is in.

 

[Arantor]

“Let that sink in”. Musk trying to be funny.

The cull of staff, both with 50% redundancies and a further “you’re now working from the office, deal with it” will push for more leavers. Plus a number of advertisers have stopped spending.

Not to mention the entirely predictable disaster of “everyone can appear to be verified for $8” which was exactky the dumpster fire it turned out to be.

Musk has no idea how to make this work. He’s not the right kind of personality to do this.

 

[Tiffany]

Agreed....and back to the DISC personality assessment, I think Musk is a high "C" with some "S". High "C's" are the engineering types....add an "S" and you get some personality. Strong "I's" and "S's" with a lower "C" are better for web stuff IMHO.

DiSC® Personality Types

The D, i, S, and C personality types All DISC tests, including the Everything DiSC® assessments, are built upon the foundation of what William Moulton Marston identified as four primary emotions and associated behavioral responses. We identify them today as D (dominance), I (influence), S...

www.discprofiles.com

 

[Retro]

The more I learn about Musk the less I like him. He sounds exactly like the kind of bastard boss I try to avoid.

I think it's especially petty how he's forcing everyone to come into the office. He's not even bothering to explain his reasoning other than maybe he thinks staff are taking advantage somehow.

I think it's especially obnoxious of him to expect regular staff to put in 100% like he does when he's a billionaire managing his pet project while they're just regular people doing a job on a regular wage.

And he's even mooting Twitter bankruptcy. Say what?! Twitter may not have been profitable, but it's been going since 2006, so why is it going bust now? Is that why the previous management sold it? No, I think as Tiffs said, he's the wrong person to lead it.

 

[Retro]

I'm not surprised at this burst of fake accounts - not surprising he's switched off the Twitter Blue function. It doesn't take much to see that this abuse was going to happen.

Looks to me like Musk is mismanaging his new $44bn toy into the ground in short order. Pathetic.

Twitter blue check unavailable after imposter accounts erupt on platform

Before Elon Musk took over the badge was granted to celebrities and journalists verified by the platform to prevent impersonation

www.theguardian.com

 

[Tiffany]

Wow, thanks for this latest news....it's really getting messy for Twitter.

The blue check is stupid if anyone can have it for $8. Maybe celebrity people should have a different color; be charged more? Personally, this check thing goes back to privilege too, if you have the discretionary $8 a month to be verified, it separates those that do not. Maybe a tiered system....or maybe nothing? I don't know where I'm going on this, have to think about this. I don't like to distinguish the have's and have not's in a social setting....if that makes sense? I'm still working on what I'm trying to say on this....thinking

 

[Arantor]

The blue check screwed up the share price of a Big Pharma company.

Musk’s Twitter chaos tosses outrageous insulin pricing into the spotlight

Fake pharma account ignited fury over insulin pricing by falsely saying it's now free.

arstechnica.com

 

[Tiffany]

Interesting, @Arantor

 

[Crims]

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[Tiffany]

Unbelievable!

 

[Arantor]

Yup, that's the one, and of course now they have to figure out how to justify their position of charging outrageous amounts for a drug that if you need it, you need it for the rest of your life, and that for some people they'll always have needed it as a genetic situation.

Other companies are in a similar boat, where they've had their identity faked, and their outrageous capitalist positions undermined, and now they're scrambling to be like 'actually, even though we think xyz should be readily available, we still need to charge you because capitalism'.

 

[Retro]

Arantor, the scenario you paint is exactly the issue with capitalism: a government regulator is needed for all capitalist situations to prevent exploitation with competition and prices. The other one of course, is that capitalism taken to the extreme becomes slavery and always tends towards it, hence robust employment laws to protect workers are critical. You know, those same laws that our corrupt tory government, especially rees-bogg, wants to burn at the stake in that "bonfire of EU regulations", those ones.

In the end, I don't think there's a perfect system, but a centre left blend of capitalism and socialism seems to be the sweet spot in my opinion (and I'm no expert), if only the country was governed like that, sigh. Labour would be closer to that ideal, but I'm under no illusions about them either.