Twitter and Musk
- Thread starter VicBee
- Start date
Yowzer.
Well, that's the thing.
As I said the other day, when GWB or someone was gloating over the class action suit filed against Elon, I doubt that they will get much for his failing to file the layoffs with the government because he provided essentially or more separation benefits than the law requires if it applies.
The government might still ding him or fine him for failing to file or something, and that is fine. But that the employees have a difficult time proving that they had are harmed beyond what they are already compensated for. Could be something but essentially he did not put the screws to them or try to avoid separation benefits so I dont know what they are expecting from the class action that is major.
BTW -- none of the Twitter employees received separation information yet (based on social media posts today). It is both doubtful and unknown that the employees are receiving 90 days of severance pay as Musk tried to claim. Just take a look at all the other stuff Musk tweeted in recent days which is obviously not correct.
In related news -- the employees Twitter are asking to come back because they were fired "by mistake" have pretty much all have given Musk the bird. This means that Twitter has no architects knowledgeable of the product available who can quickly design and implement the new features Elon Musk wants.
Yes, he has a lot of work to do and taking a company through layoffs and restructure involves many uncertainties. Everything is not going to come out tidy but that does not mean you dead either just because you bounce off of many icebergs taking the ship through it.
That is why employees such as yourself should be walked to the door as soon as possible during such transition periods because you drag the others down with your Department of Motor Vehicles employee perspective toward entrepreneurship.
It's a GREAT time to join the company even if you crash and burn. You are trying to process this through your beta male perspective.
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I actually don't blame Musk for having layoffs at Twitter. With the cash burn rate if needed to be done.
The problem is his failure to:
- follow Federal law to filed a WARN notification.
- implementing layoffs without a reasonable plan for communication to those laid off. Simply cutting off email & access on Thursday evening and never contacting the employees is a sign of stupidity and chaos rather than proper operation.
- selecting those you canned on Friday so poorly that on Monday you are left begging dozens of them to come back.
It was $3m a week ago…
Estimates state that Twitter daily advertising revenue has dropped by 65% since Musk has taken over. What is the daily cash burn rate at now? Probably at least double of $4 Mil.
It is a self-inflicted wound.
Oh pooh. Elon has put millions into rockets and watched them blow up. and then moved on to great success. As I said, you are trying to process Elon's life and worldview with your beta male Department of Motor Vehicle mindset. There is going to be a rough period and some blood will be shed. It's fine. And if he fails, that's probably fine for him too. Off to the next venture.