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Twitter employees panic over Musk’s reported threat to fire 75%; Biden admin wants review of his ventures

October 21, 2022 | | Print Article

 

Twitter employees are in full-fledged panic mode over Elon Musk taking the reins at the company and it’s easy to see why as he reportedly told investors that he will fire 75 percent of the workforce there once the buy is complete.

(Video Credit: Bloomberg Markets and Finance)

Following the revelation that Musk is likely to massively clean house at Twitter, staff took to social media to vent their fears of being laid off.

The Washington Post claims to have obtained corporate documents that show he told prospective investors in his $44 billion deal to buy the social media giant that he plans to boot three-quarters of its 7,500 workers.

The media is claiming that would leave a skeleton crew at Twitter of just under 2,000 employees, asserting that it would be hard to keep the company afloat at that point. They also ridiculously claim it would make it hard to tamp down on “misinformation.” Musk’s goal is to restore free speech, not further censorship.

One of the things that made the Tesla CEO a billionaire is his incredible prowess at creating, obtaining, and leading companies. He will likely make Twitter profitable while cutting the fat and freeing up speech. That has employees and leftists terrified.

Over 5,000 workers are allegedly about to join the unemployment line after being fired from Twitter when Musk takes over and they are not going quietly into that good night.

Gene Ross, who is a staff designer for Twitter, jokingly inquired Thursday night if anyone is “looking for a below average generalist,” while Patrick Czapla, who is a product manager, asked if they should “all go off and start New Twitter together.” Good luck with that.

Parker Lyons, who is a senior financial analyst at Twitter, tweeted a series of memes, including one that read, “When you realize you are the 75%’ with a clip of Magic Johnson shaking his head and saying ‘I’m not gonna be here.'”

He also sent out a picture of NBA star Russell Westbrook, captioned, “The remaining 1,900 employees.”

Then there is Matt Walker, a product designer for Twitter. He tore into Musk and former CEO Jack Dorsey, tweeting, “Every decision Jack has made has gotten us to this point.”

He also tweeted that between an email that stated pronouns do “more harm than good” and Musk’s planned layoffs, his unfettered opinion is that “billionaires are a**holes.”

Walker wrote in his final tweet that he was “doom scrolling on the very source of the doom.”

According to the Daily Mail, Twitter’s leadership was already planning to lay off 25 percent of its workforce and Musk’s move allows them to save face.

For context, Twitter spent $1.5 billion in 2021 on personnel. Data centers are also on the chopping block, but before everyone goes screaming into the night, it would be wise to remember that streamlining companies to make them even better, more efficient, and more profitable is what Musk does.

Twitter executives are in damage control and it is unknown whether the massive layoffs will happen or not. However, it’s a good bet they will.

That didn’t stop the top brass from denying it though. General Counsel Sean Edgett told employees on Thursday to expect “tons of public rumors and speculations” as the closing of the deal occurs.

“Since the merger agreement has been in place, there have been no plans for companywide layoffs,” he disingenuously said, according to Bloomberg.

The buyout is expected to be a done deal on October 28.

Musk admits he paid too much for the company which will further prod him to get rid of dead wood.

Meanwhile, the Biden administration is discussing a full national review of Musk’s ventures including Twitter and Starlink, according to Bloomberg. They ostensibly want to use some lame excuse such as national security to poke around in the Tesla CEO’s dealings and it is highly doubtful that will go anywhere. But the threat is noted.

The discussions to review Musk’s ventures are at an early stage, according to Bloomberg. The media outlet is reporting that officials in the US government are weighing what tools, if any, are available that would allow them to review Musk’s ventures.

This looks like a desperate attempt to stop Musk from reinstating free speech and from being a player on the national scene. The Biden administration likely wants to control and censor the billionaire.

One way the federal government could potentially muck up Musk’s ventures is through a law governing the Committee on Foreign Investment in the United States (CFIUS), which is under the US Department of Treasury.

An element of Musk’s $44 billion Twitter deal that could trigger a CFIUS review is the presence of foreign investors in Musk’s consortium, Bloomberg contends.

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