"...a professor of management at Harvard University who has studied layoffs for more than a decade, said Twitter’s cuts were among the most poorly handled that she had seen. “This is a master class in how not to do it,” ... “If you were going to rank order ways to upset people, telling them you’re going to do it in advance, without rationale, that is a particularly inhumane way to treat them.”
https://www.nytimes.com/2022/11/04/technology/elon-musk-twitter-layoffs.html
I have two rules to live by in corporate life. 1) never let a lawyer run your company or make key strategic decisions for your company 2) Never listen to advice or criticism from a female professor from Harvard about your business - they have no idea what they are talking about and no experience. I'd rather listen to a 12 year old with common sense.
Harvard's best and brightest? I think not.. There are many many many many more companies that have handled the layoff way worse.
"...a professor of management at Harvard University..."
There is your first mistake.
Harvard doctors gave us the upside-down food pyramid. That's why we now have an epidemic of obesity, type II diabetes and heart disease.
professor, stay in academia bubble, you have zero clue how business operates. axing like this are routine in the industry.
I meant loses several millions a day
Maybe I am just too old or something (given I am close to 50 and work in IT all my life) but personally i always keep an eye on the company’s performance I am working for.
So in this instant I worked for Twitter 8 years and got laid off.
But guess what, i wasn’t surprised. Why ? Twitter made a loss of $1b !!!! In 2020 and a $200m+ in 2021. Essentially losing several millions a year.
Anyone that thought your job fill be fine until you retire doesn’t understand business. Especially business of public traded company.
No shareholder will be happy with their dividends of a company their invest in that makes seven figures loss A DAY.
By the time my laptop wiped itself and Slack told me i am a goner I had already several contacts lined up with having final interviews over the coming two weeks.
If the professor thinks that was the worst and poorly handled layoff then she hasn’t followed the news. I have been part of larger layoffs where the way we found out was being locked out of the office with no manager anywhere to be seen or picking up phones.
If followed a "professor of managemenr" in Harvard, there would never be Apple or Tesla.
Twit is freaking out since he has interest payments on 13Billion in loans. His billionaire buddies should be freaking out also. Let them squirm for being d*cks. Join Tribel. It has phone app with similar features and terms of agreement that is supportable.
Yeah, losing $4M a day is pretty rough and needs some correction.
though it will take, what?, about 11,000 days to lose all of the investment.
Right?
The only reason why everyone says it was badly handled is cause it was highly publized by the media. So many other companies layoff employees just like that and it goes unnoticed cause the media doesn't cover it. These media companies earn money when people click on their article so they make it sound worse then other articles. At the end of the day, there is NO employee at twitter that didn't know this was coming. It's been publised that Musk would buy Twitter for a long time and it is well known that it takes only 500 employees to run Whatsapp, so it shouldn't take much more to run Twitter either. I think it's great Musk took over Twitter and hopefully he can clean it up and make it into a better company. At the moment, it's true, people and advertisers are leaving twitter but it's only been TWO days since Musk took over. Give him some time to clean it up and you will see more people joining Twitter and more then ever new advertisers. Just look at what he's done for SpaceX, Tesla, Starlink, Paypal, etc.
Professors are usually lab smart and real world naive. They live in a bubble.
Salaries are for simply showing up. They have few people to answer to.
It’s not like students can get a refund from a bad professor.
Losing $4M a day tends to cause owners to act quickly to stop the bleeding... I wouldn't argue it was handled well. On the other hand, the people that work at $TWTR are highly paid and pretty smart. The problem has been festering for some time and yesterday Jack apologized for over hiring. It's not like the employee didn't know what would come next.
He did tell you why. He said the company was over staffed. I have been through RIFs at different companies and it's the same thing except Musk was more public about it. The Harvard Proff seriously can't believe, doing this with ZERO notice would be better. The writing was on the wall and employees got the chance to bug out if they were that concerned.