Elon Musk set to lay off half of all Twitter employees, end work-anywhere policy

[midian182]

In brief: Elon Musk is reportedly set to slash Twitter's workforce by 50%, the equivalent of around 3,700 jobs, as he looks to reduce the company's operating costs. Additionally, the new owner will tell employees that they must return to the office, something he has also done at Tesla and SpaceX.

In the run-up to Musk's takeover of Twitter, reports circulated that he was planning to cut 75% of its workforce, or around 5,000 people. The company said there were no cuts planned, and it seems that the 75% figure was wrong, but Musk is now reportedly halving the number of Twitter employees.

The report comes from Bloomberg, which cites people familiar with the matter. The publication writes that Musk intends to inform affected workers this Friday. Engineers and director-level staff from Tesla are said to have reviewed the layoff lists, ranked on employees' contributions to Twitter's code during their time at the firm.

Another part of Musk's plan is to require employees enjoying the company's work-anywhere policy to return to the offices in and beyond San Francisco, though some exceptions could be made. This doesn't come as a surprise, given the world's richest man's feelings toward remote working.

Your feedback is appreciated, now pay $8

— Elon Musk (@elonmusk) November 2, 2022

Musk sent memos to SpaceX employees and Tesla executives in June directing that workers spend a minimum of 40 hours in the office per week or quit. The sudden influx of staff at the latter's Fremont, California plant meant there was a shortage of desks and parking spaces, problems that were still present in September.

Musk and his advisors have been considering different cost-cutting methods, including headcount reductions, at Twitter, so the final number of layoffs could change. One option is to give those let go 60 days' worth of severance pay. Musk has already removed several top execs, including CEO Parag Agrawal, and placed himself in the Chief Executive Officer role.

In addition to the staff reductions, Musk is trying to increase Twitter's revenue by revamping Twitter Blue. The updated service will cost $8 per month and offer several benefits, including verified status for subscribers.

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https://www.techspot.com/news/96541-elon-musk-set-lay-off-half-all-twitter.html

 

[James Ryan]

I really don't know why people think he's a hero.
He's just living his best capitalist life.
Like the rest of the rich pricks.

 

[VitalyT]

I really don't know why people think he's a hero.

The society by and large is sick in the head, and blunt worshiping needs no reason.

He's just living his best capitalist life.

Yep, multiplying like a rabbit, while throwing under the bus thousands of people.

Like the rest of the rich pricks.

The rest of rich pricks knows better, not to get into social media, but he doesn't, he wants attention, to be recognized, to be worshiped as a technocratic deity.

 

[ScottSoapbox]

Elon is an entrepreneur that I am happy to invest with but wouldn't want to work for.

I only work that hard for my own startups.

 

[R00sT3R]

I really don't know why people think he's a hero.
He's just living his best capitalist life.
Like the rest of the rich pricks.

Because he's 'one of them'

The rich look after their own, in any sane World, this huckster would have gone bankrupt long ago and be yesterdays news but because the rich twots on Wall St, and the 1diot influencers on Social Media bought into his hype fuelled BS, and more importantly his company stocks, they're now invested and have to keep the illusion going or see it all come crashing down, losing them a tonne of money.

I mean, He's just spent $40Bn+ he doesn't have, and to service that debt, the little people once again have to pay the price whilst the suits and parasite corporate lawyers bleed it and them, dry.

 

[m4a4]

Still pretty short sighted when it comes to working from home. If an employee's job can be done exclusively online, why force them to waste time commuting all week?
As long as their work gets done, it's has quite a few benefits (smaller office to pay for, certain types of people are happier, etc)...

 

[RudyBob]

When there is no basis someone may write "is reportedly set "

 

[wiyosaya]

Elon is an entrepreneur that I am happy to invest with but wouldn't want to work for.

As I see it, the problem with investing with him is that investing with him is just enabling him to continue in his questionable and outright fraudulent, IMO, ways.

Because he's 'one of them'

The rich look after their own, in any sane World, this huckster would have gone bankrupt long ago and be yesterdays news but because the rich twots on Wall St, and the 1diot influencers on Social Media bought into his hype fuelled BS, and more importantly his company stocks, they're now invested and have to keep the illusion going or see it all come crashing down, losing them a tonne of money.

I mean, He's just spent $40Bn+ he doesn't have, and to service that debt, the little people once again have to pay the price whilst the suits and parasite corporate lawyers bleed it and them, dry.

Personally, I think he is bringing about his own demise. He thinks he's smart, but as I see him, he is more like the folklore of "Trickster fooling himself."

All I have to say is I wish him luck with his plans.

 

[wiyosaya]

I really don't know why people think he's a hero.
He's just living his best capitalist life.
Like the rest of the rich pricks.

As I see him, he is definitely a typical capitalist prick, not to mention, a complete fraud.

 

[Gomos]

If the company I work for announced both a reduction of half the employees and the end of working from home, I am absolutely certain that the 50% of people that would remain would all the most useless unproductive people.

 

[Theinsanegamer]

Still pretty short sighted when it comes to working from home. If an employee's job can be done exclusively online, why force them to waste time commuting all week?
As long as their work gets done, it's has quite a few benefits (smaller office to pay for, certain types of people are happier, etc)...

They're a private company sweaty, they can do what they want. If you dont like it go make your own twitter!


Remote workers are going to figure out real quick, if they want to stay remote, they are going to be in a very big pool of employees that work for very little. And I just want to say I CALLED IT, remote work was not permanent and never will be.

I really don't know why people think he's a hero.
He's just living his best capitalist life.
Like the rest of the rich pricks.

He's the one who pushed EVs into reality

He's the one who reinvigorated the US space program via space X

He's the one who is bringing high speed internet, via starlink, to millions who have been underserved by traditional communications companies for decades

The man is an industrialist who calls it how he sees it. To your average person, he is far more relatable then any of these rich silicon valley screwballs that comes across like robots (zuckerberg). In a world where most of the rich are focused on squeezing wealth out of ideas and leaving the husks to rot, a man who actually builds things is a breath of fresh air.

Now, he buys twitter, and the twitter mafia suddenly realize they have to actually WORK for once in their priviledged pampered lives. The poor twitter employees who have spent the last decade calling people obsolete, spent years trying to censor us and spreading their disgusting politics into everything while enabling the verbal diarrhea of the most vapid, now get faced with the harsh reality they have promoted for the rest of us.

Few cry when those in ivory towers get eaten.

 

[wiyosaya]

They're a private company sweaty, they can do what they want. If you dont like it go make your own twitter!


Remote workers are going to figure out real quick, if they want to stay remote, they are going to be in a very big pool of employees that work for very little. And I just want to say I CALLED IT, remote work was not permanent and never will be.

There are still plenty of positions out there dangling the carrot of remote work in front of potential employees. Besides, it fits the capitalistic model in that companies no longer have the expense of maintaining a business location which increases the holy grail of capitalism - the bottom line.

He's the one who pushed EVs into reality

He did not invent them. He did not invent the vehicles that Tesla sells. His deal with Tesla was that part of his buyout of them included stipulation that he go on record as the Inventor of the vehicle even though he is not. He's nothing more than a fraud, and never will be anything more than a fraud.

https://www.youtube.com/results?search_query=debunking+elon+musk

Review a few of those videos if you really want to know what Elon Musk is all about.

He's the one who reinvigorated the US space program via space X

No he's not. It was NASA inviting in private enterprise for tasks deemed too menial for NASA leaving NASA to tackle the much harder tasks like JWST, and missions to the outer planets. And in case you have not heard, Space X is not the only player NASA has invited into the game. Besides that, all the companies that NASA invited in have royalty-free access to all NASA patents.

I'm not going to address any more of your post since it is full of praise for the emperor with no clothes.

 

[wiyosaya]

Ah yes. Yet another TS topic that will be closed to further comments in short order.

EDIT: @Julio Franco with all due respect, why not have someone at TS investigate some of the claims in the videos at this link - https://www.youtube.com/results?search_query=debunking+elon+musk

I get that Elon Musk is a big click draw for TS, but does he really deserve - from a completely objective standpoint - all this attention? If there is any truth to the claims in those videos, it seems to me that the TS community would be better served by exposing him for what he really is.

 

[mrvco]

Remote work definitely has it limits. We're seeing that more and more at my 'big tech' employer. A couple of days per week in the office for face-to-face meetings and deeper collaboration is proving to be invaluable.

 

[fps4ever]

I see the Musk is "the devil brigade" has already infested this thread. Capitalism is bad and socialism is good, blah, blah, blah. Don't forget to wear your worthless mask if you go outside while collecting those free .gov checks...

Hard to blame Musk considering the current failed administration trying to uncluster what the old leadership did at twitter.

Consider the following link of general .gov screw ups so far as to why he needs to do what he is doing. The only thing I would disagree with him is to ease up on remote working. A hybrid solution would be best.

Biden's. failure, weakness and chaos

 

[Ohnooze]

I really don't know why people think he's a hero.
He's just living his best capitalist life.
Like the rest of the rich pricks.

Oh no, not a hard working and successful capitalist!!!!
Seriously blows my mind how people love to demonize others that earn their success.
I don't know Musk and don't care to but holy crap the ridiculous hate for capitalism and people with money is insane. Here's an idea....work hard and earn your own and stop judging everyone who has done well.

Ah yes. Yet another TS topic that will be closed to further comments in short order.

I get that Elon Musk is a big click draw for TS, but does he really deserve - from a completely objective standpoint - all this attention?

Most of your views are generally off but I have to agree with the above statement. Every Musk topic blows up because he is so divisive but he really isn't worth so many articles imo.

 

[Ohnooze]

I'm not involved in Twitter and like everyone else here I don't know what's true and what's not. That said my understanding is that a large number of employees are basically doing whatever they like. The company seems to be ran by children which has led to way lower profits than what the platform is capable of. If that's true then I can see why he is doing this. If he thought that the employees were needed he would not be cutting so many. I would have a hard time letting so many go but I'm not in his shoes.

 

[Ohnooze]

I see the Musk is "the devil brigade" has already infested this thread. Capitalism is bad and socialism is good, blah, blah, blah. Don't forget to wear your worthless mask if you go outside while collecting those free .gov checks...

Hard to blame Musk considering the current failed administration trying to uncluster what the old the old leadership did at twitter.

Consider the following link of general .gov screw ups so far as to why he needs to do what he is doing. The only thing I would disagree with him is to ease up on remote working. A hybrid solution would be best.

Biden's. failure, weakness and chaos

Dude...if you're earning your money, you're doing it all wrong!!
You need to live off the government and your parents savings and fight against all this hard work, success and dedication BS going on. Fight the power, be a loser!!

 

[m4a4]

They're a private company sweaty, they can do what they want. If you dont like it go make your own twitter!

Imagine using condescension as your argument instead of actually arguing against my points

Also, I think you were trying to go for "sweety", which makes it even more hilarious.

 

[fps4ever]

Imagine using condescension as your argument instead of actually arguing against my points

Also, I think you were trying to go for "sweety", which makes it even more hilarious.

I think he was being sarcastic and pointing out that is exactly what the left has and continues to say. A lot of companies have conformed to the hybrid solution like mine. I work at home and at the office. Works really well, at least for me.

 

[m4a4]

I think he was being sarcastic and pointing out that is exactly what the left has and continues to say. A lot of companies have conformed to the hybrid solution like mine. I work at home and at the office. Works really well, at least for me.

It could be either, it's a bit ambiguous. However, the rest of the comment suggests they were fine brushing it off.

 

[emmzo]

I see the Musk is "the devil brigade" has already infested this thread. Capitalism is bad and socialism is good, blah, blah, blah. Don't forget to wear your worthless mask if you go outside while collecting those free .gov checks...

Hard to blame Musk considering the current failed administration trying to uncluster what the old leadership did at twitter.

Consider the following link of general .gov screw ups so far as to why he needs to do what he is doing. The only thing I would disagree with him is to ease up on remote working. A hybrid solution would be best.

Biden's. failure, weakness and chaos

Well, I'm with you with capitalism, but how about the billions in subsidies from the government to Musk and others or the occasional bail out of big corporations with money from the taxpayers. I could argue this is also a form of socialism? Or is it socialism only when the poor benefit? It's so easy to point fingers: "free checks? Benefits for the poor? The left! Socialism! Go to work peasants!", but it's the rich that benefit the most out of government contracts, loans and tax breaks. Tesla has sold at least $6 billion worth of government-backed electric vehicle credits btw.

 

[PaulDeemer]

A year from now Twitter won't be worth a fraction of what Musk paid for it. All the people that know how to actually run the company will have been fired or quit.

 

[umbala]

A year from now Twitter won't be worth a fraction of what Musk paid for it. All the people that know how to actually run the company will have been fired or quit.

It's not worth a fraction of what he paid for it now. Even the highest estimates valued Twitter only at about a third of what he paid for it, and that was a very liberal estimate.

We already know how this is going to play out. Musk will keep pushing it every chance he gets and make outlandish claims/posts/decisions to try and attract attention. The people who already drank the kool-aid will lap it up, but the rest of us won't care. I never used Twitter and never will, no matter how hard Musk will flail.

 

[umbala]

Well, I'm with you with capitalism, but how about the billions in subsidies from the government to Musk and others or the occasional bail out of big corporations with money from the taxpayers. I could argue this is also a form of socialism? Or is it socialism only when the poor benefit? It's so easy to point fingers: "free checks? Benefits for the poor? The left! Socialism! Go to work peasants!", but it's the rich that benefit the most out of government contracts, loans and tax breaks. Tesla has sold at least $6 billion worth of government-backed electric vehicle credits btw.

What you described there my friend is called corporate welfare. Lots of companies do it. Probably the biggest culprit is Wal-mart. They pay their employees so little that they have to rely on food stamps and other government sponsored welfare to make ends meet. Meanwhile Wal-mart gets to keep their billions in profits every year while taxpayers pay the difference so Wal-mart workers can get by. Ah the sweet sweet smell of capitalism in all its glory.