Last week, billionaire tech entrepreneur Elon Musk cut close to 3,700 jobs at Twitter – roughly half of the social media platform’s workforce. Musk, who paid a reported $44 billion for the service has been looking to find ways to reduce expenditures, while at the same time has begun to implement the “24/7” work culture that he is famous for – including calling upon employees to work around the clock to make the changes he’d like to see.
Already gone are the company’s “Days of rest” – those monthly days off that allowed employees to rest and recharge – while the Twitter’s remote work policy could soon be a thing of the past.
Some experts have already questioned whether Musk’s recent decisions are best for the company.
“Musk’s objective seems to be more about making headlines than making the best of Twitter,” said John Colley, associate dean of Warwick Business School, via an email.
“It may well be that Twitter would benefit from some efficiencies and it may well be over staffed,” Colley added. “However, announcing plans to cut ‘half the workforce’ in the first week does not seem the best way of encouraging employees. The only things it generates are ill will and plenty of media coverage.”
Today many employees in the tech world often accept that they may have to work harder, but Twitter’s staff could take issue that they have to burn the midnight oil because half the staff was let go. That could be especially true if those employees don’t like the direction Musk is taking the company.
“At this rate Musk may finish making his sweeping cuts, only to find that many of the remaining staff choose to leave as they do not like the new regime,” Colley suggested. “Certainly allowing more ‘tweets’ from inflammatory figures will not go well with the culture. Musk may discover that he needs some of those staff he is currently planning to dispense with.”
Right-Sizing the Company?
Musk had previously said the social media platform would eventually hire back some of the laid-off employees, but increasingly some in the tech world are asking who would actually want to work at Twitter. According to a survey conducted this past weekend by the Institute for Corporate Productivity (i4cp), the social media company could even face an uphill battle to find those individuals who are generally tasked with the hiring process.
According to the findings, which were published on Tuesday, 72% of respondents said they wouldn’t even consider accepting a human resources (HR) job at Twitter, while 67% said that they believed Musk had mishandled the management of the company.
In addition, almost 59% HR professionals said they would have already quit or would at least be furiously sending their resumes out to other employers. Only 15% of respondents said they were excited about what the future holds, while an equal number said they were in a “wait-and-see” mode. Eight percent simply said they were dazed and confused by how Musk handled the takeover of Twitter.
“Our research confirms an unmistakable link between a healthy culture and bottom-line business impact,” said Kevin Oakes, CEO of human capital research firm i4cp, and author of Culture Renovation.
Musk may be thinking of the bottom line, but he could find that it isn’t just Twitter’s users who may abandon the service in the coming weeks and months.