Everybody Gets Fired
Q: According to the New CEO Handbook, if you’ve just spent a ton of money on a really bad deal to buy a big company, how do you recoup your losses?
A: Fire everybody.
While the New CEO Handbook is not a real book, I do imagine Elon having read something similar, since it really seems like advice he got from…somewhere. It was initially reported that Musk wanted to lay off as much as 75 percent of the Twitter workforce—an announcement that naturally freaked out workers at the company. Musk later backtracked on that figure but still decided that he’d be firing about half of the workforce, or some 3,700 employees. In other countries, layoffs were even worse. Musk reportedly fired as much as 90 percent of the social media company’s workforce in India. Hey, when you’re deeply in debt ($13 billion, to be exact), ya gotta cut corners somewhere, right?
