Twitter layoffs - Elon Musk and Tesla (TSLA)

Elon Musk reportedly laid off half of Twitter's 7500 staff and the Singapore office was not spared

This Platformer post highlighted the poor manner this was managed. The lack of communication from the new management since taking over, and the first message they received was the news of their retrenchment.

Quoting from the Platformer:

"Musk remained, as ever, above it all. “Why is small talk even legal!?” he tweeted as the layoff notices began to go out."

Elon Musk claims that the cuts had to happen because of hits to Twitter's revenue, but as noted tech journalist Kara Swisher pointed out, this is self-inflicted

From ad tweep who knows: The drop off is mostly self inflicted. First: The CRO [@SEP] walked out Friday. She's trusted by the marketing community. So, Elon goes to meet agency heads in NY. The Twitter exec who runs the US walked him in and is a trusted partner at these agencies. pic.twitter.com/GBAaQQiYKG

— Kara Swisher (@karaswisher) November 4, 2022

What ever you think of a controversial figure like Elon Musk, you have to wonder how he will dig his way out of this hole.

If you are a Tesla shareholder, how do you feel about your part-time CEO essentially diverting company resources for his own personal investment's benefit? According to CNBC, he pulled 50 of Tesla's staff, including Director of Autopilot and Teslabot engineering, Senior Director of Software engineering to try to understand Twitter's programming code. Also mentioned in the same article from CNBC, this is not a new practice. Employees at Tesla or SpaceX have been drafted to work at other Musk companies before this.

While Elon Musk is famously disdainful of rules and convention, one wonders if this will come back to bite him if Tesla results or stock price (or both!!) suffers in the future.