Elon Musk’s Cost-Cutting Measures at Twitter: Unpaid Bills, Lawsuits, and Short-Term Thinking
Elon Musk’s Cost-Cutting Measures at Twitter: Unpaid Bills, Lawsuits, and Short-Term Thinking
Elon Musk’s Cost-Cutting Measures at Twitter: Unpaid Bills, Lawsuits, and Short-Term Thinking
According to a report from the Financial Times on Friday, Elon Musk, the CEO of Tesla and SpaceX, has been repeatedly quoted as saying “let them sue” in relation to unpaid bills by Twitter’s vendors, which have reportedly accumulated since his $44 billion takeover of the company. In November, Musk established a “transition team” made up of trusted associates whose job was to reduce costs. However, according to the report, the team refused to compensate Twitter’s vendors, partners, and landlords to keep costs low.
The FT quoted a former senior employee who was laid off in the most recent round of cuts as saying, “Elon would always say ‘Let them sue,’ it was a constant refrain. It’s all very short-term thinking.” The transition team is said to be led by Steve Davis, the CEO of Boring Company, who has cut nearly $1 billion in costs at Musk’s request.
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