X MARKS THE MISFIRE: How the slash-and-burn tactics Musk brought to Washington backfired at Twitter

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X MARKS THE MISFIRE: How the slash-and-burn tactics Musk brought to Washington backfired at Twitter - Business Mirror

Quick Summary:

When Elon Musk bought Twitter in 2022, he laid off thousands of employees, stopped paying rent and auctioned off coffee makers and office chairs in hopes of a big turnaround.

A federal judge on Thursday put on hold a midnight deadline the same day for government workers to accept Musk’s “deferred resignation offer” promising pay through September without having to work.

The same week that Musk’s teams at DOGE were threatening to lay off tens of thousands of federal workers, bankers who loaned him billions of dollars to buy Twitter were bracing for losses and trying to unload the loans on others.