Twitter Asks Dozens Of Laid-Off Staff To Return, Cites ‘Mistake’: Report

Some of those who are being asked to return were laid off by mistake. Others were let go before management realized that their work and experience may be necessary to build the new features Elon Musk envisions, the report said citing people familiar with the moves.

After Twitter is now reaching out to dozens of employees who lost their jobs

Twitter recently laid off 50% of its employees, including employees on the trust and safety team, the company’s head of safety and integrity Yoel Roth said in a tweet earlier this week.

Tweets by staff of the social media company said teams responsible for communications, content curation, human rights and machine learning ethics were among those gutted, as were some product and engineering teams.

Twitter on Saturday updated its app in Apple’s App Store to begin charging $8 for sought-after blue check verification marks, in Elon Musk’s first major revision of the social media platform.

Twitter did not immediately respond to Reuters’ request for comment.

 

Tesla most ‘future-ready’ carmaker, China’s BYD rising: Report

 Japan’s Toyota second, followed by Germany’s Volkswagen and South Korea’s Hyundai.

Tesla is the most “future-ready” carmaker, while its Chinese competitor BYD has made the most progress in enhancing its resilience, according to an index compiled by a top business school.

Elon Musk’s electric vehicle (EV) company ranked first for readiness to navigate future crises for a fourth consecutive year, while Shenzhen-based BYD climbed nine places to fifth spot, according to the rankings released by the Swiss-based International Institute for Management Development (IMD) on Wednesday.

BYD’s local EV rivals XPeng, Li Auto and Nio ranked 12, 14, and 18, respectively.

The index, which has been compiled annually since 2010, bases its results on a combination of financial fundamentals, investors’ expectations of future growth, business diversity, employee diversity, research and development, early results of innovation efforts, and cash and debt.

International growth

Howard Yu, the author of the index, said Chinese firms would have to look beyond the local market to maintain their growth in the years ahead.

“Zero COVID lockdowns in China presents a near-term challenge,” Yu told Al Jazeera. “In the long run, Chinese companies — that are future ready — must seek international growth. If they are earning foreign exchange substantially, they are in a more favourable position.”

“BYD is a great example, as 40 percent of its revenue comes from the international market; and diversification of market risk is an important element of a successful strategy,” Yu said.

Readmore:https://www.aljazeera.com/economy/2022/5/4/tesla-most-future-ready-carmaker-chinas-byd-rising-report

Elon Musk sells $4bn worth of Tesla shares

 

The billionaire said he will not sell any more of the electric car maker’s shares

Elon Musk sold about $4 billion worth of Tesla shares after announcing a blockbuster $44 billion deal to buy Twitter.

Tesla’s chief executive offloaded about 4.4 million shares on April 26 and April 27, filings showed late on Thursday. Wall Street analysts and investors in the electric car maker suspected that Mr Musk may need to sell some stock to cover the $21bn equity portion of the transaction that he’s personally guaranteed.

Mr Musk tweeted shortly after the filings were made public that he has “no further Tesla sales planned after today”.

Mr Musk and Twitter reached an agreement on Monday for the world’s richest man to buy the social media company. His quest raises several “key man risk” issues for Tesla, where Mr Musk has been chief executive since 2008 and has long been the largest shareholder. Meanwhile, confirmation of his sales may unnerve shareholders, scores of whom are retail investors.

Tesla shares fell 12 per cent on April 26, the most since September 2020, and were little changed in the following two sessions, with the stock closing Thursday at $877.51. Another $12.5bn of Mr Musk’s deal for Twitter is secured by his Tesla stake.

“It’s a brutal cycle for Tesla investors to navigate and casts a shadow on the name with Mr Musk selling more stock,” said Dan Ives of Wedbush. “The Twitter deal is becoming an albatross for Tesla’s stock and this pours gasoline on the raging fire.”

To Know More:https://www.thenationalnews.com/business/technology/2022/04/29/elon-musk-sells-4bn-worth-of-tesla-shares/