Reply to Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder

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Reply to "Elon Musk buys $3 billion stake (9.2%) in Twitter and is now the platform's largest shareholder"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem isn't that there is a reduction in workforce. The problem is how he went about it. There was no identification of roles that can be eliminated, so that it can be done in a systematic way. HR and compliance people aren't writing code, but those people essential to the functioning of a company.

Let's say that they did due diligence, when they cut the initial workforce, and what they're left with is people they wanted to stay (that's the point, right?). Now they were given an ultimatum, and bunch of the remaining people, the ones they identified as 'keepers' also left. So, who is going to do the job of these people?

Now, look at it from the perspective of the employee. Every day you log into work is a fire drill, and your new boss expects you to work 16 hour days to fulfil his vision, with no promises of anything tangible. IF you are someone with marketable skills, would you stay? And if you're someone without marketable skills, aren't those the very people Twitter wants gone?

At the end of the day, how he's doing this, is nearsighted. It shows leadership that is incompetent at best, and injecting so much volatility is going to cost you clients. Now, revenue is down, and you're stuck with people without marketable skills. AND you have a fairly substantial debt that needs to be serviced. You're MUCH worse off than you were, when you had a relatively stable platform run by [b]a bloated workforce[/b].[/quote]

What exactly was bloated about the workforce?  What was the problem?

The big problem was that Musk said something dumb about buying the company and then the board did something dumb by letting/making it happen.  [/quote]
What the board did was very smart for the shareholders since Musk’s offer was like three times what the company was worth. It was just very dumb for the actual company.[/quote]

Not sure how killing the company, as Musk is doing ("Bankruptcy is possible"), is good for the shareholders...[/quote]

Those shareholders sold their shares to Elon for an inflated price.  Elon and a few others are now the shareholders who will suffer in the coming bankruptcy.[/quote]

As of October 28: Twitter's largest institutional shareholders are: Vanguard Group (8.95 percent), BlackRock Fund Advisors (4.66 percent), SSgA Funds Management (4.28 percent) and Fidelity Management & Research (2.76 percent).

Have they all sold?

https://www.cnbctv18.com/business/companies/elon-musk-twitter-share-price-shareholding-pattern-major-shareholders-15036191.htm[/quote]

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