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Are you disagreeing that layoffs are happening at twitter? Elon told investors it would happen, and he needs to increase profit by $1.5B to stop losing money. Layoffs are guaranteed. The question is will it be 25% as reported or 75% as Elon promised. The answer is we can’t know because nobody knows. It’ll probably something in between.
Evidently Musk had Tweeps work all weekend on the new Verified feature lest they get fired, and some were fired "for cause" anyway. https://twitter.com/GergelyOrosz/status/1587029446061686784
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You probably don't work in a country with a 3.5% unemployment rate.
That unemployment rate is nonsense. If you want a job that does not pay you enough to even afford a studio apartment in many locales then yes there are multiple jobs ready to take you. Hell they'll even provide you some free (candy\pens\fast food\a pat on the back) to further tempt the deal. For everyone else that unemployment rate is a mirage.
Fascinating.
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> the employer can demand whatever they want and fire you for whatever reason they want In the US. I'm glad I work in a country where workers actually have rights.
Everything in life is tradeoffs. American software engineers get paid more than basically anyone else in the world, but we also have less job security. What's preferable just depends on your risk aversion vs marginal utility of money.
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I have a friend who works in sales at a tech company and since all of this accounts are long term customers he really doesn't do much. They like the service so it is basically an auto-renewal. So I guess Elon thinks that advertisers will just auto renew because they like the ROI they get from their spend on twitter. However, what he fails to realize is the media buyers love to be wined and dined with fancy dinners. I…
> However, what he fails to realize is the media buyers love to be wined and dined with fancy dinners. If you fire all of your sales staff they will just take their spend to the next company who can take them to five star meals and other cool outings. Advertising spend doesn't work like pharmaceutical sales. They will renew precisely because they like the ROI, whether they get pampered or not, because as advertising…
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Can verify that Twitter is laying people off. Several contacts at Twitter were laid off this weekend and hoping they I could submit their resumes to my current employer. They were told that these were performance based terminations, despite not receiving any negative evaluations during their time at Twitter. They were also told they needed to sign NDAs in order to receive any severance. Can't confirm the %.
maybe performance of Twitter, not the particular employees?
6 months ago it was all painted (maybe seemingly, though, by prior executives who weren't speaking for Musk) as if this wouldn't be a big deal for employees, which to me makes this idea that people are being rapidly fired "for cause" after a suddenly-imposed weekend work shift deadline extra shitty :/. (Even if I do sometimes claim that Twitter is incompetent as an organization or bloated with idle staff, these are h…
Pardon me, but isn't this the standard operating procedure for leveraged buyouts of "inefficient" businesses? Cut expenses to the bone, resulting in a higher profit margin on the same revenue, coast on that revenue while dismembering the business for anything valuable, and then load any transferable debt to the carcass and declare bankruptcy?
Before reels or tiktok or stories or shorts, there was vine and people loved it. But it didn't make any money.
> Another person familiar with the deal who spoke on the condition of anonymity to discuss sensitive matters last week said the total number of layoffs is likely to be closer to 50 percent. Unless I’m missing something, the only sources for this article are a mix of speculation and anonymous sources who can’t even agree with each other about the layoff.
- four people familiar with the discussions who spoke on the condition of anonymity
- numerous employees contacted by The Post, who spoke on the condition of anonymity
- tweets from some of the people involved
- photos obtained by The Washington Post
- A document filed with financial regulators Monday
- interviews and documents obtained by The Post
- court records
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Can verify that Twitter is laying people off. Several contacts at Twitter were laid off this weekend and hoping they I could submit their resumes to my current employer. They were told that these were performance based terminations, despite not receiving any negative evaluations during their time at Twitter. They were also told they needed to sign NDAs in order to receive any severance. Can't confirm the %.
Is requiring an NDA for severance even legal? That's seriously sketchy