Tells The Story Of Layoffs And Cita-Chita Elon Musk After Twitter Acquisition

Elon Musk again gave an ultimatum to Twitter employees. According to him, The best people stay stay, so I'm not too worried." (Fox)

JAKARTA - The process of acquiring Twitter shares worth IDR 683 trillion by billionaire Elon Musk is running slowly and surely. Starting with buying only 5 percent of the shares secretly in early 2022.

Several months later, Musk again increased the percentage of his share ownership on social media with the blue bird logo, according to a document released by the US Securities and Exchange Commission (SEC), Elon Musk purchased 73,486,938 shares of Twitter on March 14, 2022.

As a result, Musk officially owns 9.2 percent of Twitter's companies and is the largest 'outside' shareholder on Twitter. At that time, Elon's goal of buying Twitter shares was still a mystery. However, CFRA research institute analyst Angelino Zino has predicted this was Elon's attempt to acquire Twitter.

Twitter Inc then offered Musk a seat as a member of the board of directors. However, Musk understood by sitting in that position, he would not be able to own more than 14.9 percent of Twitter's shares. Musk refused.

Launching Reuters, Musk's rejection was announced directly by Twitter CEO, Parag Agrawal on April 11, Elon Musk has officially rejected the appointment. That way, Musk canceled his position as second class director on Twitter.

After two days, Musk surprisingly made an offer to acquire Twitter.

I will make an offer, Musk tweeted while including a link to the filling document at the US Securities and Exchange Commission (SEC) on April 14.

"Twitter has tremendous potential. I will open it," Musk said in the document.

"My offering is my best and final offer and if it is not accepted, I need to reconsider my position as a shareholder," Musk continued.

The company is trying to block Musk's efforts by implementing a poison pill' strategy. Weakens anyone who raises company shares by selling more shares to other shareholders at a discounted price. The poison pill will last 364 days.

This is a tactic to prevent the takeover of shares by unwanted people or companies by making Twitter's shares unfavorable to the acquisitions.

But Musk remains immovable. The Tesla owner finally successfully completed the takeover of Twitter Inc on 27 October.

Shortly after the purchase deal, Musk immediately sacked Agrawal, Chief Financial Officer (CFO) Ned Segal, and Head of Policy and Legals Vijaya Gadde. Musk, according to Reuters, teased them for providing misleading data about the number of users and fake accounts on Twitter.

Not only high-ranking officials, Musk immediately washed the warehouse by firing thousands of other employees. Roth, Head of Twitter's Security and Integrity Division, confirmed in a Twitter thread that 50 percent of Twitter's workforce had been laid off across the company.

Musk said he had no other choice. This is done as a step change because the company loses 4 million US dollars every day.

Musk's move drew controversy from employees. Shortly thereafter Roth and Twitter's Head of Information Security, Lea Kissner chose to leave.

"I've made a difficult decision to leave Twitter. I had the opportunity to work with amazing people and I'm very proud of the privacy, security and IT team as well as the work we did," Kissner tweeted last November 10.

Twitter had about 7,500 workers before Musk's takeover. However, 3,700 employees were fired after he entered.

In fact, at this time, the number is decreasing again. Elon Musk further emphasized his steps to build Twitter 2.0 by giving ultimatums to employees to work harder until overtime or back off. Employees are given until November 17 afternoon to stay or leave with three months of severance pay.

As it turned out, launching The Verge, hundreds of employees immediately said goodbye and uploaded the honorary emoji at the company's internal Slack channel. Reportedly, 42 percent took the option out.

Since Elon Musk acquired Twitter, it is estimated that more than 70 percent of employees have left, either fired or resigned.

"And just like that, after 12 years, I left Twitter. I have nothing but love for all my sweeps friends, then and now. A thousand faces and a thousand scenes have circumvented in my mind right now. I love you Twitter and I will forever make it blue," tweeted a Twitter employee Satanjeev who has been translated, Friday (18/11).

At the same time, the company also announced the closure of offices and blocking of employee access from 17-21 November 2022.

The mass resignation of Twitter employees to the issue of closing the office and closing Twitter became a trending topic on Twitter. The hashtag goodbye Twitter, RIPTwitter, HahTwitter appeared on Friday (18/11).

However, Elon Musk didn't bother you. According to him, The best people stay, so I'm not too worried."

According to Alex Hern, technology editor of TheGuardian, not only on Twitter, this ultimatum is also often done when leading other companies.

In Tesla's leaked internal e-mail last year, he explained his management style: 'If an email is sent from me with clear directions, there are only three actions allowed by the manager. 1) My email goes back to explain why what I said was wrong. Sometimes, I'm completely wrong! 2) Requesting further clarification if what I say is not clear. 3) Run the instructions.

"If nothing above is done, the manager will soon be asked to resign."

"Likewise in spring, employees are expected to be in the office at least 40 hours a week or leave Tesla," wrote Hern at The Guardian.

Musk did not buy Twitter to cut jobs, or simply expand his territory, which already includes land (Tesla), outer space (SpaceX), and the underlying world (Boring Company), to cyberspace. In fact, his motivation has been clear since April, when he first made an offer to own a company.

"Freedom speech is the foundation of a functioning democracy and Twitter is a digital city square where things are important for the future of mankind."

According to Musk, this is not about profit. Having a trustworthy public platform is important for the future of civilization.

"I didn't buy Twitter to make money, but for the sake of humanity I love," said Elon Musk.