Commentary
It’s finally happening: Elon is bringing economic rationality to Twitter, the company he just took over under very high pressure to amp up cash flow in the midst of a stagflationary environment. It’s no easy task but it certainly begins with cost cutting. First on the chopping block: the labor pool itself. Half the workers will be gone by the close of business Nov. 4, 2022.
Consider the irony. These one-time essential workers are now discovering that they are nonessential to the operations of the company. They will soon hit the job market at a huge disadvantage. The tech sector is melting in its financials and nearly all have either hiring freezes or large cuts coming. The laptoppers who exercised immense power for two years, deciding who could and could not speak and what can and cannot be said, suddenly find themselves out of a job….