RIP Twitter

#3,251
#3,251
C-south said:
Twitter employees filed a suit against Twitter because they’re losing their jobs. Seems like they’ve gained a sense of entitlement which is probably a huge reason why their being told to hit the door.
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IDC what group of people we're talking about, if you lay off 3,000 of them and they're legally entitled to recourse, a significant portion of them is going to take advantage of the law and the money that is being made available to them. Leveraging the government is Musk's greatest move. He would do this.
 
#3,252
#3,252
n_huffhines said:
IDC what group of people we're talking about, if you lay off 3,000 of them and they're legally entitled to recourse, a significant portion of them is going to take advantage of the law and the money that is being made available to them. Leveraging the government is Musk's greatest move. He would do this.
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He announced it before he even took ownership. I’m sure he knows what he’s doing.
 
#3,256
#3,256
C-south said:
That it wasn’t a surprise and I highly doubt there’s any “legal recourse” that hasn’t already been addressed.
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But that's not what we were talking about.

I don't think you or I are qualified to say anything about their legal recourse. Are you a lawyer? Are you familiar with the laws in CA? I am not. I just learned about this WARN law and have no idea if his statements about layoffs before he owned the company satisfy the law. I kinda doubt that they do.

This was a masterful deflection, tho.
 
#3,257
#3,257
n_huffhines said:
But that's not what we were talking about.

I don't think you or I are qualified to say anything about their legal recourse. Are you a lawyer? Are you familiar with the laws in CA? I am not. I just learned about this WARN law and have no idea if his statements about layoffs before he owned the company satisfy the law. I kinda doubt that they do.

This was a masterful deflection, tho.
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Guess we’ll see. 🤣
 
#3,258
#3,258
Cry more you whiney b*tch.

Dude's debt service alone is gonna be over a billion/year (more than Twitter's profits, even before he blew everything up). Have fun with that, Elon.

 
#3,259
#3,259
wow. they are back guys, and now they are in twitter. This is a collection of super criminals. You don't get here without doing nefarious things. Peter Thief is BACK.

"Sacks was an early PayPal employee along with Musk, part of a group later known as the “PayPal Mafia” because of how many companies the group started. The group also included Peter Thiel, the billionaire entrepreneur and conservative activist who co-wrote a book with Sacks called “The Diversity Myth.” (Sacks has since sought to distance himself from the book, which criticized multiculturalism in higher education.) Sacks went on to co-found Yammer, a workplace social network that Microsoft bought for $1.2 billion in 2012."

welcome to facebook 2.0. Be very, very, very careful how you use this platform rn. It will be a hive of disinformation and data collection. Anything Thiel touches is strait evil ish.
 
#3,260
#3,260
evillawyer said:
Cry more you whiney b*tch.

Dude's debt service alone is gonna be over a billion/year (more than Twitter's profits, even before he blew everything up). Have fun with that, Elon.

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You have the details of his debt structure?
 
#3,261
#3,261
hog88 said:
You have the details of his debt structure?
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"The frenzy of product development underlines the pressure that Mr. Musk, the world’s richest man, is under to deliver immediate results — and returns — on the technology industry’s largest-ever leveraged buyout. To finance his Twitter deal, he loaded the company with $13 billion in debt, putting it on the hook to pay more than $1 billion annually in interest alone."

Source: Elon Musk, Under Financial Pressure, Pushes to Make Money From Twitter
 
#3,264
#3,264
evillawyer said:
"The frenzy of product development underlines the pressure that Mr. Musk, the world’s richest man, is under to deliver immediate results — and returns — on the technology industry’s largest-ever leveraged buyout. To finance his Twitter deal, he loaded the company with $13 billion in debt, putting it on the hook to pay more than $1 billion annually in interest alone."

Source: Elon Musk, Under Financial Pressure, Pushes to Make Money From Twitter
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Can't read, it's behind a paywall. Are they speculating or do they have actual details of the loan structure?
 
#3,266
#3,266
volinbham said:
If he violated the WARN act as alleged the remedy is pretty mild

The WARN Act requires most employers with 100 or more employees to provide notification 60 calendar days in advance of plant closings and mass layoffs. If the employer fails to provide proper notice, employees may be entitled to recover damages equal to 60 days' pay.
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This particular lawyer did the same thing with Tesla employees when Musk laid off 10% of them. As you alluded to it was/is largely a nothing burger. On the Tesla case the court ordered mediation to resolve the issue.
 
#3,269
#3,269
volfanhill said:
Yea he's really screwed. How long before you think he's poor? A week or two max.
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He ain't going to be poor. Twitter, though, is saddled with debt and may never climb out from under it. But hey, a billionaire narcissistic ******* got to pretend to be a self-styled white knight protector of free speech for a little while, so it will all be worth it.
 
#3,271
#3,271
evillawyer said:
He ain't going to be poor. Twitter, though, is saddled with debt and may never climb out from under it. But hey, a billionaire narcissistic ******* got to pretend to be a self-styled white knight protector of free speech for a little while, so it will all be worth it.
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it was saddled with debt before he bought it and he added more. I'm betting he'll ramp revenue and ultimately improve the financial performance of the company. It was a trainwreck financially and virtually all observers saw it as severely over-staffed.
 
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#3,272
#3,272
evillawyer said:
As of now, I still get to watch my videos of Ukraine blowing up Russian soldiers for free.
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I can take that answer. So on a more straight up question can you see the value in monetizing this feature? Users assign value to it that’s clear. For a business like Twitter value is quantified by money basically. And also can you see that this expense will largely be passed on to employers like professional society fees and dues or written off by self employed?
 
#3,273
#3,273
NorthDallas40 said:
I can take that answer. So on a more straight up question can you see the value in monetizing this feature? Users assign value to it that’s clear. For a business like Twitter value is quantified by money basically. And also can you see that this expense will largely be passed on to employers like professional society fees and dues or written off by self employed?
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It's the common freemium model.
 
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#3,275
#3,275
Seems like they have addressed the 60 day notification issue and any suits would be without merit.

Hello,

As shared earlier today, Twitter is conducting a workforce reduction to help improve the health of the company. These decisions are never easy and it is with regret that we write to inform you that your role at Twitter has been impacted.

Today is your last working day at the company, however, you will remain employed by Twitter and will receive compensation and benefits through your separation date of February 2, 2023.

During this time, you will be on a Non-Working Notice period and your access to Twitter systems will be deactivated. While you are not expected to work during the None-Working Notice period, you are still required to comply with all company policies, including the Employee Playbook and Code of Conduct.

Within a week, you will receive details of your severance offer, financial resources extending beyond your Non-Working Notice period. At that time you will also receive a Separation Agreement and Release of Claims and other offboarding...
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Read the blunt Twitter email telling employees that their jobs are axed
 
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