Tech CEOs echo Elon Musk's steep demands for workers
Since Elon Musk's Twitter takeover, internal affairs have drastically changed for the social media platform. Now, according to Business Insider, other Big Tech CEOs appear to be taking similar action and demanding more of workers which suggests a bigger economic downturn is near.
Per the news outlet, the message being conveyed to tech workers is simple: workers "would be expected to step up or find somewhere else to work."
Based on recent remarks from other CEOs, a shift in the industry is happening much sooner than later. Back in July, Facebook CEO Mark Zuckerberg made similar remarks.
"Realistically, there are probably a bunch of people at the company who shouldn't be here," Zuckerberg reportedly said. "And part of my hope by raising expectations and having more aggressive goals, and just kind of turning up the heat a little bit, is that I think some of you might just say that this place isn't for you. And that self-selection is okay with me."
The news outlet also notes that Zuckerberg doubled down on his stance during a Q2 earnings call later that month. At the time, he insisted that the company planned to "steadily reduce headcount growth over the next year," and that "many teams are going to shrink so we can shift energy to other areas inside the company."
Sundar Pichai also expressed concern about the level of productivity for employees as he insisted that it needs improvement.
"Across everything we do, we can be slower to make decisions. You look at it end-to-end and figure out how to make the company 20% more productive," Pichai said. "Sometimes there are areas to make progress [where] you have three people making decisions, understanding that and bringing it down to two or one improves efficiency by 20%."
Back in October, Meta investor Altimeter Capital penned an open letter detailing tech companies' overall goal. "It is a poorly kept secret in Silicon Valley that companies ranging from Google to Meta to Twitter to Uber could achieve similar levels of revenue with far fewer people," the Meta investor said. said in an open letter in October.
Many CEOs and shareholders are paying close attention to Twitter and how it will operate with more than half of its staff cut. "Twitter may ultimately end up as the case study on efficiency," analysts at Bernstein Research wrote, "as 'Elon's Razor' will test just how lean these businesses can run."