Elon Musk’s Bold Statements and Controversies

Scarlet Logan on December 4, 2023

The 2023 DealBook Summit in New York became a stage for Elon Musk, the enigmatic force behind the social media powerhouse X (formerly Twitter), as he plunged into controversy with his candid remarks on advertisers and the tumultuous landscape of the platform.

Elon Musk’s Candid Response to Advertisers:

In an unapologetically direct manner, Elon Musk, renowned for his unfiltered communication style, took the stage to address the advertisers contemplating an exit from X due to the amplification of controversial posts. Musk’s language was explicit but unequivocal as he vehemently rejected any attempts at coercion through advertising funds, delivering a stark message: “Go f— yourself.”

Targeting Disney CEO Bob Iger:

Musk’s boldness didn’t stop there. He singled out Disney CEO Bob Iger in the audience, accentuating his defiance against potential blackmail and making the confrontation personal. Musk went further, implying that his loyal supporters would initiate a boycott against advertisers choosing to sever ties with the platform, promising a meticulous documentation of the downfall of companies that abandoned X.

X CEO Linda Yaccarino’s Response:

Following Musk’s incendiary comments, X CEO Linda Yaccarino entered the fray, providing additional context and possibly attempting damage control to mitigate the fallout from Musk’s unbridled statements.

Musk’s Apology and Acknowledgment of Mistakes:

Acknowledging the recent promotion of content labeled as “antisemitic and racist hate” by the White House, Musk expressed remorse, deeming it one of the most imprudent actions on the platform. Despite the controversy, Musk vehemently denied any antisemitic inclinations, emphasizing the platform’s strict terms of service against calls for extreme violence.

Impact on Advertisers and Users:

The repercussions from Musk’s inflammatory posts have reverberated across the platform, prompting major advertisers, including industry giants Disney and Apple, to suspend their campaigns on X. The exodus of notable figures, such as Paris Mayor Anne Hidalgo, signals potential challenges for X’s user engagement and raises questions about the platform’s future trajectory.

Musk’s Multi-faceted Roles and Global Presence:

Beyond the confines of X, Elon Musk wears multiple hats as the CEO of Tesla and SpaceX. His recent diplomatic engagement in Israel, where he met Prime Minister Benjamin Netanyahu, underscores his global influence and the intricate interplay between technology, diplomacy, and personal convictions.

UAW Campaigns and Musk’s Views on Unions:

Addressing the campaigns launched by the UAW against Tesla and other automakers, Musk articulated negative views on unions, characterizing them as fostering a divisive “lords and peasants” atmosphere. He suggested that the potential unionization of Tesla would be indicative of a failure on their part to maintain a harmonious working environment.

Navigating Regulatory Oversight:

Musk openly acknowledged the regulatory oversight his companies face, emphasizing their commitment to compliance with regulations. He underscored the importance of delivering high-quality products and meeting user demands, asserting that the success of his companies is ultimately dictated by market forces.

Challenges in China and Concerns about AI:

Delving into challenges posed by the Chinese market, Musk reiterated his commitment to adhering to local laws while questioning the feasibility of doing more than complying with the regulations of any given country. Additionally, Musk expressed deep-seated concerns about the potential harm of artificial intelligence to humanity, revealing personal struggles with sleep stemming from these profound apprehensions.

Takeaway:

Elon Musk’s recent foray into controversy underscores the intricate challenges of managing a global digital platform. As he navigates public scrutiny, regulatory oversight, and the societal impact of his ventures, Musk remains a central figure shaping the narrative of technology and its profound influence on contemporary society.

From Layoff to Launch: Alphonzo Terrell’s Bold Move to Create Spill

Jeah Lorraine Adams on December 4, 2023

A Twitter Departure Leads to Entrepreneurial Aspirations

In the tumultuous aftermath of Elon Musk’s seismic acquisition of Twitter, Alphonzo Terrell found himself among the 3,700 employees abruptly laid off from the social media giant. Rather than succumbing to the uncertainties of unemployment, Terrell swiftly embraced a proactive approach, turning a potentially devastating setback into a strategic springboard for entrepreneurial endeavors.

The notification of his departure, delivered via email just over a year ago, marked a pivotal moment for Terrell, who had spent three years at the helm of Twitter’s social and editorial teams. On November 4, 2022, a mere week after Elon Musk’s $44 billion acquisition, Terrell took to Twitter, declaring it was “time to build something new.” Shortly thereafter, he engaged in a pivotal conversation with DeVaris Brown, a friend and former colleague, setting the stage for their next venture.

Spill – Crafting a Unique Space in Social Media

In the dynamic and ever-evolving landscape of social media, Terrell and Brown’s brainstorming session led to the rapid conceptualization of Spill within hours of their decision to embark on this entrepreneurial journey. Drawing from their extensive experience in online community-building, the duo aimed to address the common pitfalls afflicting traditional social media platforms. They envisioned Spill as more than just another app; it was to be a haven, embodying qualities often elusive in mainstream social media: positivity, safety, and inclusivity.

The name “Spill” was chosen deliberately, echoing the colloquial phrase “spill the tea,” commonly used to describe the act of sharing gossip or information. This choice reflects Spill’s mission, as outlined in its comprehensive community guidelines. The guidelines emphasize Spill’s commitment to inclusivity, with a strategic focus on amplifying the voices of historically marginalized communities, including Black and LGBTQ+ users. Terrell emphasizes that while Spill is open to everyone, its strategic emphasis on serving marginalized communities will enhance the overall user experience.

Navigating Challenges and Setting Spill Apart

Terrell’s insider perspective, gained during his tenure at Twitter, positions him to astutely identify and address the challenges faced by existing platforms. Elon Musk’s leadership at Twitter brought about policy updates, controversial statements, and changes in content moderation practices, leading to a reported surge in hate speech on the platform. In response, Terrell envisions Spill as a refuge, especially for the splintering Black Twitter community, offering a space where culture drivers, such as Black women and the queer community, can thrive without the drawbacks experienced elsewhere.

Spill is not positioned as a mere replication of Twitter or any existing platform. April Reign, equity advocate and #OscarsSoWhite creator, underscores this distinction, emphasizing that Spill is intentionally creating a foundation rather than attempting to be “Black Twitter 2.0.” The platform’s core thesis revolves around focusing on culture drivers, acknowledging and rewarding their contributions, and providing a safe and inclusive space for diverse voices.

Terrell acknowledges the challenges ahead, particularly in the wake of Musk’s influence on Twitter. However, he sees these challenges as opportunities for Spill to distinguish itself further. The platform is committed to staying focused on its mission, blocking out external noise, and remaining fundamentally different from other platforms attempting similar goals.

Twitter still hasn’t released severance offer to laid-off employees

Scarlet Logan on September 5, 2023

Twitter: An employee whose job has been terminated or laid off may get monetary compensation or a severance offer from their employer.

It frequently serves as an avenue for the business to support the worker financially during the adjustment time following the layoff.

Salaries, benefits, and other payments may also be included in severance packages.

Employees said they hadn’t yet gotten a formal severance package or separation agreement despite Elon Musk releasing them two months earlier.

On Wednesday, the final official day of employment for those affected by the original layoffs, a former employee said they expected to hear something.

The news

Early Thursday, the former employee said they never received any documents linked to the offer or severance agreement.

Other former employees made similar claims on Twitter.

One person asserted they had never gotten severance money or a written letter of termination.

No severance details had been sent to Shannon Liss-Riordan’s clients as of Thursday, a spokesperson for her said.

Her spokesperson, Kevin Ready, explained:

“There was some anticipation that they would be sent yesterday, but we haven’t seen that.”

Liss-Riordan, meanwhile, issued the following statement on Thursday:

“Yesterday was the official separation date for thousands of Twitter employees, and after months of chaos and uncertainty created by Elon Musk, these workers remain in the lurch.”

The layoffs

Elon Musk spent $44 billion to buy the social networking firm in October.

Staff members began to express concerns as he started reducing expenses and paying off mounds of debt.

One month later, Musk kept letting employees go in waves.

He turned away even more workers by making those who remained pledge to put in “hardcore work.”

Musk promised the discharged employees a three-month severance package during the layoffs.

The timespan took into account the 60-day prior notice that Twitter was required to share.

Severance agreements

Fortune published a report about Twitter’s intention to provide severance compensation to sacked employees on Thursday afternoon.

However, it was unclear when the agreements would be publicly disclosed.

Screenshots and an anonymous person supported the accusation.

Former US Twitter employees would have received one month’s base pay under the severance agreements.

Additionally, there would be a clause mandating that employees abstain from taking part in ongoing legal actions launched against Twitter.

Lawsuits

On behalf of the fired workers, Shannon Liss-Riordan submitted four proposed class action lawsuits against Twitter.

The accusations included claims that the business failed to uphold its commitments to provide consistent benefits and remote work.

Additionally, they received complaints alleging discrimination on gender and disability.

Furthermore, Liss-Riordan filed three complaints with the National Labor Relations Board against the business.

On Thursday, she added 100 more arbitration demands against the social media giant.

The demands came after the first 100 last month.

In December, the workers won an early legal battle.

Before asking them to sign separation agreements that include claim releases, a judge ordered Twitter to notify the ex-employees of the lawsuit.

References:

Two months after mass Twitter layoffs, affected employees still waiting for severance offers

Twitter sued by landlord for allegedly failing to pay rent

Twitter still hasn’t released severance offer to laid-off employees

Scarlet Logan on July 10, 2023

Image source: ARS Technica

Twitter: An employee whose job has been terminated or laid off may get monetary compensation or a severance offer from their employer.

It frequently serves as an avenue for the business to support the worker financially during the adjustment time following the layoff.

Salaries, benefits, and other payments may also be included in severance packages.

Employees said they hadn’t yet gotten a formal severance package or separation agreement despite Elon Musk releasing them two months earlier.

On Wednesday, the final official day of employment for those affected by the original layoffs, a former employee said they expected to hear something.

The news

Early Thursday, the former employee said they never received any documents linked to the offer or severance agreement.

Other former employees made similar claims on Twitter.

One person asserted they had never gotten severance money or a written letter of termination.

No severance details had been sent to Shannon Liss-Riordan’s clients as of Thursday, a spokesperson for her said.

Her spokesperson, Kevin Ready, explained:

“There was some anticipation that they would be sent yesterday, but we haven’t seen that.”

Liss-Riordan, meanwhile, issued the following statement on Thursday:

“Yesterday was the official separation date for thousands of Twitter employees, and after months of chaos and uncertainty created by Elon Musk, these workers remain in the lurch.”

The layoffs

Elon Musk spent $44 billion to buy the social networking firm in October.

Staff members began to express concerns as he started reducing expenses and paying off mounds of debt.

One month later, Musk kept letting employees go in waves.

He turned away even more workers by making those who remained pledge to put in “hardcore work.”

Musk promised the discharged employees a three-month severance package during the layoffs.

The timespan took into account the 60-day prior notice that Twitter was required to share.

Severance agreements

Fortune published a report about Twitter’s intention to provide severance compensation to sacked employees on Thursday afternoon.

However, it was unclear when the agreements would be publicly disclosed.

Screenshots and an anonymous person supported the accusation.

Former US Twitter employees would have received one month’s base pay under the severance agreements.

Additionally, there would be a clause mandating that employees abstain from taking part in ongoing legal actions launched against Twitter.

Lawsuits

On behalf of the fired workers, Shannon Liss-Riordan submitted four proposed class action lawsuits against Twitter.

The accusations included claims that the business failed to uphold its commitments to provide consistent benefits and remote work.

Additionally, they received complaints alleging discrimination on gender and disability.

Furthermore, Liss-Riordan filed three complaints with the National Labor Relations Board against the business.

On Thursday, she added 100 more arbitration demands against the social media giant.

The demands came after the first 100 last month.

In December, the workers won an early legal battle.

Before asking them to sign separation agreements that include claim releases, a judge ordered Twitter to notify the ex-employees of the lawsuit.

References:

Two months after mass Twitter layoffs, affected employees still waiting for severance offers

Twitter sued by landlord for allegedly failing to pay rent

Check marks become symbol of punishment on Twitter today

Jerry Cooper on May 1, 2023

Check marks — The verification check marks on Twitter is a process by which Twitter verifies the authenticity of an account and confirms that it belongs to the person or entity it claims to represent.

This verification is indicated by a blue check mark next to the account’s name on Twitter.

The purpose of this process is to help users identify the authenticity of the account and to prevent impersonation or misrepresentation.

To be eligible for verification, an account must meet certain criteria, including being active, complete, and public, as well as meeting Twitter’s guidelines for verification.

The verification process involves submitting an application to Twitter and providing documentation to support the request.

However, ever since Tesla CEO Elon Musk took over the social media giant, the blue check marks have taken a new turn.

What happened?

Days earlier, Twitter removed the check marks from VIP users and prominent organizations.

However, the check marks reappeared on high-profile accounts, with many of the users saying they didn’t ask for it or want a new verification badge.

Several accounts of deceased figures have also been noted to receive their verification marks, leaving many to question how many badges Twitter is distributing without charging the users.

A declining value

The recent Twitter check mark situation highlighted how Elon Musk eroded the value of the blue check.

It is especially noteworthy that he is working to drive subscription revenue for the company following a massive drop in the core advertising business.

The blue check mark had once been an online status symbol that authenticated influential accounts.

However, the symbol has evolved into a source of confusion due to Musk’s decision to monetize it.

Punishment

This past weekend, several high-profile figures announced that they were punished with verification check marks.

Several celebrities and key figures like authors Neil Geiman and Stephen King expressed difficulties getting the check marks removed.

The celebrity backlash and Twitter’s decision to restore some badges at its own expense only highlighted the gaps in Musk’s plan and execution.

Additionally, it showed how out of the loop Musk is from celebrity users who produced content to help keep the social media platform popular.

The cost

Ironically, Elon Musk slammed the company’s legacy approach in 2022, which verified celebrities, news organizations, and government accounts.

“Twitter’s current lords & peasants system for who has or who doesn’t have a blue checkmark is bullshit,” he said in November 2022.

“Power to the people! Blue for $8/month.”

The new Twitter CEO then rolled out a paid verification option as part of the subscription product Twitter Blue.

He also removed legacy blue check marks from accounts, leading to consequences like waves of impersonation and potential for new scams and misinformation.

Musk’s attempts to address the errors only prompted him to make a u-turn, implementing the system he previously criticized.

However, things are different today as Elon Musk is at the helm, making verification less transparent.

Rather than symbolizing authenticity, Twitter verification is now riddled with conflicting messages.

For some, it reflects a loyalty pledge and support for the direction Musk is guiding the company.

Meanwhile, those who received a badge without asking for it view the check mark as a symbol of shame or embarrassment.

Others, however, consider it a mark of gullibility.

Users

Independent researcher Travis Brown has kept tabs on the tally of paying Twitter users.

The past few days had a net increase of 12,000 Twitter Blue accounts, mounting to 551,517.

Before going private, the figures showed more than 237 million active users.

Several big-name users refused to pay, and Musk explained he was personally covering their subscriptions.

Last weekend, several check marks were restored, appearing on influential users who claimed they didn’t pay for them.

A fading symbol

Elon Musk’s initial plan seemed to depend on leveraging verification’s current cachet as a status symbol to increase subscriptions.

While there were other features in the subscription product, the verification option was the main driver.

However, changing the meaning of the verification transformed the check mark’s value proposition.

Supporters of the new system criticized those opposed to it.

Subscription services coming to Meta, Twitter 2FA given change

Brandon Foster on February 23, 2023

…

Subscription service – Users are already upset about another significant change Mark Zuckerberg announced for Facebook and Instagram on Sunday.

According to reports, the CEO of Meta said that the company is testing a premium subscription service that verifies users of Facebook and Instagram.

The stunning story comes after Twitter said it will begin charging users for SMS two-factor authentication.

The news

Zuckerberg stated in his introduction that the subscription service would be called “Meta Verified.”

Customers will pay $11.99 per month so they can use this service.

However, the monthly service costs $14.99 for iOS users.

This week will see the launch of Meta Verified, with Australia and New Zealand getting a peek before other countries.

Meta Verified

The subscription service that Meta provides is more than simply a status symbol.

Also, it offers advantages including stronger protection against imposter accounts.

Furthermore, Meta Verified gives customers quick access to customer service.

When a customer uses the subscription service, they are issued a blue badge that allows them to verify that they are indeed the user.

Any person who wants to use the subscription must be at least 18 years old and have a government ID that perfectly matches their profile name and photo.

Statements

Meta Verified was announced by Mark Zuckerberg on an Instagram broadcast channel, where he wrote:

“This new feature is about increasing authenticity and security across our services.”

Everyone was shocked by the sudden revelation, but Meta clarified to calm things down.

The social media behemoth asserted that the new subscription service wouldn’t have an effect on verified accounts, which were previously only available to authentic, well-known people.

“We are evolving the meaning of the blue badge to focus on authenticity so we can expand verification access to more people,” said a Meta spokesperson.

“We will display follower count in more places so people can distinguish which accounts are notable public figures among accounts that share the same name.”

A league of their own

The company’s usage of subscription services puts Meta Verified in the same category as other platforms like:

Discord
Reddit
Twitter
YouTube

Among all the websites with their own membership services, Twitter is the one that provoked the most controversy.

Twitter Blue

Elon Musk and Twitter revived Twitter Blue in December, a subscription service for verification.

The service had been active up until a flood of bogus “verified” accounts caused the company to discontinue the feature.

To make it easier to identify between multiple accounts, Twitter has also introduced new colors for various check box options, including:

Gold checks for companies
Gray checks for government organizations and affiliates
Blue checks for individuals, celebrities or non-celebrities

Users of Android and iOS may subscribe to the platform for $11 per month with Twitter Blue.

When Elon Musk purchased the company in late 2022 for $44 billion, his objective was to grow the number of users.

Two-factor authentication

When Twitter said last week that it was reevaluating how it handled two-factor authentication, it caused a stir.

According to the press release, SMS messages are a two-factor authentication method that is only available to Twitter Blue members.

Only 2.6% of Twitter users had 2FA enabled as of 2021, according to a study done by Twitter Account Security.

Just 74.4% of consumers utilized SMS authentication, however.

As of March 20, non-Blue users have two more, cost-free alternatives for authenticating their log-ins:

A security key
A mobile authentication app

The announcement was made on Twitter on February 15 in a blog post that stated:

“Instead of only entering a password to log in, 2FA requires you to also enter a code or use a security key. This additional step helps make sure that you, and only you, can access your account.”

“While historically a popular form of 2FA, unfortunately we have seen phone-number based 2FA be used – and abused – by bad actors.”

“So starting today, we will no longer allow accounts to enroll in the text message/SMS method of 2FA unless they are Twitter Blue subscribers.”

“Non-Twitter Blue subscribers that are already enrolled will have 30 days to disable this method and enroll in another.”

“We encourage non-Twitter Blue subscribers to consider using an authentication app or security key method instead.”

“These methods require you to have a physical possession of the authentication method and are a great way to ensure your account is secure.”

Twitter to deal with more rivals in 2023 developed by former employees

Jerry Cooper on February 16, 2023

…

Twitter – Twitter, one of the biggest social media platforms, began laying off thousands of workers around the end of 2022.

After the long-awaited acquisition, Elon Musk, the new owner and CEO, made the final call on whether to separate ways.

Musk pointed hundreds out the door with intentions to mold the business in his vision.

The decision has backfired on him and the social media site, though, as several ex-employees are starting their own services to compete with Twitter.

T2

During the first round of layoffs at the social media firm in 2022, Sarah Oh lost her job as a human rights advisor.

She launched T2 alongside former Google and Twitter employee Gabor Cselle after being laid off as a result of the situation.

T2 is a social media platform with features that most users are accustomed to using that closely resembles Twitter.

It presently has a 280-character restriction and is in the beta testing stage.

The similarities are uncanny, although T2 is more concerned with security.

“We really do want to create an experience that allows people to share what they want to share without fearing risk of things like abuse and harassment,” said Oh.

“We feel like we’re really well positioned to deliver on that.”

Other rising competitors

Users weren’t too pleased with the new CEO’s following decisions after the Musk acquisition:

Slashing Twitter staff
Rethinking content moderation policies
Lifting bans on several suspended accounts

As a result, many consumers have been attracted to emerging brands like T2 and Spill by Sarah Oh and Gabor Cselle.

Another firm founded by ex-Twitter staff members, Spill, has the support of one of Twitter’s investors.

Meanwhile, former CEO Jack Dorsey plans to introduce Bluesky, an entirely unique service.

Unique approaches

While T2 is modeled after Twitter, some startups use a different approach.

For instance, the creators of Instagram announced their comeback with the launch of a new app called Artifact.

The software advertises itself as a “personalized news feed” that makes use of AI.

People compared the description to Musk’s social media business.

However, testing has found Artifact having similarities to news reader programs like Apple News.

Popular items from well-known media outlets and smaller blogs are displayed by Artifact in the main feed.

Depending on the users’ actions and chosen interests, different news is displayed.

Each firm seems to be utilizing the chance to solve Twitter user complaints.

An alternative, not a replacement

The Anti Software Software Club co-founder Jae Kaplan created Cohost, a text-based social networking site, last year.

Cohost is similar to Twitter.

Around June 2022, Cohost was introduced to the public after Musk made a bid to purchase Twitter.

“Something that we’ve heard a lot from people who are moving from Twitter, either partially or fully, is that it is just for them a nicer experience overall,” said Kaplan.

Following the Musk acquisition, Cohost experienced a spike in activity in November.

80,000 new users were accepted within 48 hours.

“People have been referring to us when they do as a Twitter alternative,” said Kaplan.

“Which I think is an important distinction from a Twitter replacement.”

However, since Twitter has served as the major network and home for journalists, politicians, and celebrities, it is difficult to take their position.

Additionally, some people have been using the blue platform to monitor real-time news for years.

User activity

Although certain apps and services, like Cohost, are gaining popularity again, Twitter, which had more than 200 million daily active users in 2022, still has a much larger user base.

Despite barely having over 20,000 active members, Cohost claims to have 130,000 users.

T2 now has a five-digit waitlist, according to Sarah, and she anticipates that figure to rise.

The most prominent competitor to Twitter, Mastodon, surpassed 2.5 million subscribers in November 2022.

But the number has dropped to over 1.4 million members, suggesting that the site may suffer the same fate as previous providers.

Senior research analyst Tom Forte from D.A. Davidson spoke to the movement and said:

“The incumbent has the advantage of scale, and even in a situation where you have kind of a polarizing figure like Musk take over Twitter, people are realizing that the new platforms are not nearly as effective from a one-to-many, getting your message out there.”

“Despite the fact that there may be disgruntled consumers, they’re still tweeting.”

Twitter users

Elon Musk has bragged about the social media company’s increasing user base after the takeover in November.

Many users expressed skepticism and called to leave the site.

Additionally, it was hard to verify the claims since Musk turned the business private after the acquisition in order to avoid having to disclose user counts in quarterly financial filings.

“If people leave, where do they go? By all accounts, there is no platform right now that is able to take on the junction of Twitter, and nothing is really prepared for it,” said Karen North, a USC Annenberg School for Communication and Journalism clinical professor.

“No platform has the global user base, representing people from all walks of life the way that Twitter does.”

Withering urgency

The initial uproar and media coverage around the new CEO have reportedly subsided in the months since Elon Musk finalized the purchase.

The majority of users no longer feel the same urgency as in October, even if disagreement clearly still exists.

Mastodon’s creator, Eugen Rochko, isn’t very concerned, though.

“A platform cannot continue to go viral perpetually,” said Rochko.

“The cycle of media news and attention on social media just simply goes away after a while, but behind it leaves organic growth which is what we had before November, and which we still have now.”

Amazon continues layoffs with 18,000 cuts announced

Jeah Lorraine Adams on January 12, 2023

…

Amazon: Mass layoffs, also known as large-scale layoffs or workforce reduction, refer to the practice of a company dismissing a significant number of employees at the same time.

This can happen for various reasons, such as a decline in business, restructuring the company, or outsourcing certain functions.

2022 was a year that witnessed several major corporations announce laying off hundreds of thousands of workers.

Although it has already joined the movement, Amazon says it will continue to lay off employees.

The news

Amazon is one of the world’s largest and most successful online retailers.

The company initially started as an online bookstore but quickly diversified to sell various products, including electronics, clothing, home goods, and more.

In addition to its online retail business, Amazon also offers cloud computing and streaming services.

According to reports, Amazon is laying off more than 18,000 employees.

The company explained that the decision was made due to the worsening global economic outlook.

Memo

Andy Jassy, the CEO of Amazon, said the e-commerce giant would continue its layoffs early next week.

He released a memo that elaborated on the decision, saying:

“Our annual planning process extends into the new year, which means there will be more role reductions as leaders continue to make adjustments.”

“Those decisions will be shared with impacted employees and organizations early in 2023.”

According to Jassy, Amazon has yet to conclude how many other roles will be affected.

However, each leader will communicate with their respective teams when they come to a conclusion.

Additionally, the memo said executives recently met to decide how to trim the company.

Amazon executives will also prioritize what customers value and the business’s long-term health.

“This year’s review has been more difficult given the uncertain economy and that we’ve hired rapidly over the last several years,” said Jassy.

The layoffs

In November, Andy Jassy said job cuts at Amazon would continue into early 2023.

Several media outlets reported last fall that the e-commerce giant set a goal of cutting over 10,000 employees.

On Wednesday, Amazon started the layoffs.

The decision to cut jobs is supposed to help Amazon pursue long-term opportunities from a more robust cost structure.

Jassy acknowledged that the cuts are a difficult decision and that it is difficult for people.

“We don’t take these decisions lightly or underestimate how much they might affect the lives of those who are impacted,” he added.

The e-commerce giant will start informing the affected staff on January 18.

“It’s not lost on me or any of the leaders who make these decisions that these aren’t just roles we’re eliminating,” said Jassy.

“But rather, people with emotions, ambitions, and responsibilities whose lives will be impacted.”

Shifting habit

The e-commerce giants enjoyed a booming business at the onset of the pandemic.

Consumers shifted their habits to online shopping for nearly everything they needed.

However, Amazon was struck hard by the surging inflation in 2022.

In addition, consumers demand dwindled as people started opting for in-person shopping, an area the company is currently focusing on.

Company stock

In October, Wall Street analysts were disappointed with Amazon’s holiday season forecast as it missed their expectations.

The company expected revenue for the final three months to stand between $140 and $148 billion, which was significantly lower than the expected $155 billion.

Rising inflation and recessionary fears affected consumer purchasing decisions, leading to a weaker forecast.

Amazon reported revenue of $127.1 billion for the third quarter.

While it was a 15% increase from 2021, it missed Wall Street estimates.

Other companies

Several tech companies, founders, and CEOs admitted failing to gauge pandemic demand.

As a result, many are cutting off staff.

Meta recently announced it was laying off 11,000 employees, the largest mass layoff in the company’s history.

Meanwhile, after buying Twitter for $44 billion, Elon Musk has been cutting jobs from the company left and right.

This week, Salesforce announced it was cutting off 10% of its employees.

References:

Amazon will lay off more than 18,000 workers

Amazon stock falls 14% on light holiday quarter sales forecast

Elon Musk’s Candid Response to Advertisers:

Targeting Disney CEO Bob Iger:

X CEO Linda Yaccarino’s Response:

Musk’s Apology and Acknowledgment of Mistakes:

Impact on Advertisers and Users:

Musk’s Multi-faceted Roles and Global Presence:

UAW Campaigns and Musk’s Views on Unions:

Navigating Regulatory Oversight:

Challenges in China and Concerns about AI:

Takeaway:

A Twitter Departure Leads to Entrepreneurial Aspirations

Spill – Crafting a Unique Space in Social Media

Navigating Challenges and Setting Spill Apart

The news

The layoffs

Other problems

Severance agreements

Lawsuits

The news

The layoffs

Other problems

Severance agreements

Lawsuits

What happened?

A declining value

Punishment

The cost

Users

A fading symbol

The news

Meta Verified

Statements

A league of their own

Twitter Blue

Two-factor authentication

T2

Other rising competitors

Unique approaches

An alternative, not a replacement

User activity

Twitter users

Withering urgency

The news

Memo

The layoffs

Shifting habit

Company stock

Other companies

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