Advertisement
UK markets open in 46 minutes

  • NIKKEI 225

    38,094.38
    +132.58 (+0.35%)
     

  • HANG SENG

    16,435.30
    +183.46 (+1.13%)
     

  • CRUDE OIL

    82.78
    +0.09 (+0.11%)
     

  • GOLD FUTURES

    2,392.90
    +4.50 (+0.19%)
     

  • DOW

    37,753.31
    -45.66 (-0.12%)
     

  • Bitcoin GBP

    49,011.38
    -2,189.75 (-4.28%)
     

  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     

  • NASDAQ Composite

    15,683.37
    -181.88 (-1.15%)
     

  • UK FTSE All Share

    4,273.02
    +12.61 (+0.30%)
     
Money:

5 ways to get help with childcare costs

Childcare is eye-wateringly expensive, here are some ways to save money

Elon Musk will need help at Twitter, leadership expert says

Brian Sozzi
·Executive Editor
Updated ·2-min read

Elon Musk will need more trusted recruits if he wants to successfully reinvent Twitter, according to one former top CEO.

Elon "needs a team around him," Bill George, former Medtronic CEO turned leadership expert, said on Yahoo Finance Live (video above). "He's not starting something new. This is an ongoing enterprise. Millions of people are posting every minute on that site. So I think he's got a tiger by the tail. He's a brilliant guy, but I think he's going to need help. And I would like to see him bring in a CEO because I'm worried about Tesla too."

Twitter has been in a state of chaos since Musk assumed control of the platform earlier this month.

Musk kicked off layoffs of roughly half of Twitter's 7,500-strong workforce several weeks ago as he seeks to reposition the social media platform for profitable growth after a $44 billion acquisition.

ANKARA, TURKIYE - OCTOBER 06: In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of twitter on a mobile phone in Ankara, Turkiye on October 06, 2022. Muhammed Selim Korkutata / Anadolu Agency
In this photo illustration, the image of Elon Musk is displayed on a computer screen and the logo of Twitter on a mobile phone on October 06, 2022. (Muhammed Selim Korkutata / Anadolu Agency, Getty Images) (Anadolu Agency via Getty Images)

Most of the firing occurred in Twitter's ethical AI, marketing and communication, search, public policy, and wellness departments, according to reports.

ADVERTISEMENT

After these initial layoffs, Musk demanded employees sign a pledge to work under "extremely hardcore" conditions or else be canned. The ultimatum was met with a revolt among Twitter's remaining employees, causing Musk to soften his stance.

Musk has continued to lay off Twitter workers, including on the day before Thanksgiving. The layoffs have reportedly left Twitter's key departments — notably its regulatory department — at dangerously low levels.

Meanwhile, Tesla's stock has crashed by 18% over the past month as the Twitter drama has unfolded.

"I think he's got to get back and worry about Tesla," George warned. "Tesla has enormous potential, but I think he's got to go and worry about that. He's spending all his time, obviously, on Twitter, and I don't know if it's going to produce dividends. But it could cost a lot more on the other side."

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Click here for the latest trending stock tickers of the Yahoo Finance platform

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube