I appreciate how Elon's demonstrating the value of labor unions to technology workers.
Musk’s inner circle worked through weekend to cement Twitter layoff plans
381–390 of 852 posts
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#382Earlier quoted context omitted.
I'm constantly shocked that "leveraged buyouts" are a thing. It seems like taking a business and loading it up with debt is a recipe for failure that would introduce a lot of risk for the lender, but banks and other capital holders continue issuing the debt.
It's not intended for the business to continue operating after a leveraged buyout. Leveraged buyouts are typically used where the company has assets that aren't "productive" or is made up of more-or-less independent units that are worth more separate than together. In these cases, cutting expenses by firing people is usually the first step, since the business' revenue stream can usually continue on autopilot for a wh…
There will be no more quarterly reports and no more share price. Twitter will delist from NASDAQ on Nov 8 or whereabouts
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#3836 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…
You also need to give two months notice, or compensate for two months time, if you're going to have a big layoff. Laying off 50% of employees is also going to add up. 3,500 employees * $20,000 = $70,000,000.
If they keep them on they'll need to pay that anyway, this way they start saving money in 2 months instead of never.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#384> 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.
This is how high quality journalism works. There's actually quite an involved skill to reading and fully understanding this kind of writing - and it's infuriatingly difficult to pick up that skill (I've been developing it by spending time talking to professional journalists, but I'm still not there yet). When you read "another person familiar with the deal who spoke on the condition of anonymity to discuss sensitive…
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Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#385Earlier quoted context omitted.
But it's not speculation: > ...according to four people familiar with the discussions who spoke on the condition of anonymity to describe them, as well as tweets from some of the people involved.
I am sorry but i am over the "people familiar" .. " condition of anonymity" crap in news Either put a name to it, or dont report on it
It's amazing how people still trust these "according to people familiar with x" articles after the past 5+ years. Like 99% of them have been wrong and just used to push a political agenda.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#386Wow, a whole weekend?
Terminating huge amounts of the workforce when they have next to no knowledge of the inner workings of the company... well, it's going to be a disaster, and I think all the tech people here know it. I'm sure there are some areas to cut, but they almost certainly don't know which yet. Cutting 25%, you're going to mess up. Then you have to face the reality that the other 75% will be seeking the exit - few want their workload to increase by 33%, plus work for someone as mercurial and abusive as Musk and his team, plus be a party to the dying company which will inevitably become a more effective tool of the alt-right and extremists.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#387Earlier quoted context omitted.
I am sorry but i am over the "people familiar" .. " condition of anonymity" crap in news Either put a name to it, or dont report on it
Asking sources to publish their name is a very sure way to not have sources at all. Quote Orwell, Journalism is printing what someone else does not want printed. You need to get people to tell you about all those things, and as that someone who dislike them being printed has power (it ain't news otherwise,) you need to find a way to make people talk to you. "Help me to rekt your career and life" just don't cut it.
That would make sense if journalists had a better track record when it came to their anonymous sources, but they don't.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#388Earlier quoted context omitted.
Not only an NDA - many companies also require you to sign anti-disparagement clauses, meaning you can have severance clawed back if you speak negatively of the company.
Something like that would never hold up in court, in fact it might even make the whole firing illegal in the first place. Unless, of course, so NDA's would also prevent the employer from speaking negatively about the employee, but those are extremely rare.
Do you have any reliable source for this? as it's fairly common in the industry. I know lots of things are common that turn out to be illegal, but this one is ripe to be tested time and again, and the fact that it's still being used implies that those challenges failed.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#3896 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…
Firing 25% of the workforce "for cause" looks like a very hard sell to me, and would open up Twitter for a barrage of lawsuits - and rightly so. Even laying off 25% of the workers would be hard to justify at this point. I'm certainly curious where this all is going.
How many devs at twitter have no code to show for the past month, because they swept up by the impending doom of Musk's takeover and stopped working? I would guess more than a few. Firing those "for cause" will probably be easy; they stopped working for a month and anybody can get fired for that.
Those that remained productive will probably have better prospects for keeping their jobs, and for suing if they're fired.
Re: Musk’s inner circle worked through weekend to cement Twitter layoff plans
#390Earlier quoted context omitted.
Elsewhere in this thread, people are discussing a potentially-credible (but maybe you disagree) report on this from Gergely Orosz that does not paint this as "only the 3 senior executives". https://twitter.com/gergelyorosz/status/1587042365084209153?... > I talked with an engineering manager who was at Twitter for 5+ years, and got laid off on Sunday "for cause". They were too exhausted from working over the weekend…
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