Elon Musk not very different from Steve Jobs in firing employees
Summary
Elon Musk’s acquisition of Twitter and then laying off thousands of employees has something in common with the long-ago story of Steve Jobs’ return to a failing Apple. In many ways, the complicated story of Musk and Twitter takes us back to the 1990s when another tech giant also took an extreme step in firing employees. Picture this, according to a report by David Heinemeier Hansson, who is the Creator of Ruby on Rails, co-owner & CTO of 37signals said when Apple was in terrible shape in 1997, Steve Jobs joined the company. Back then, Apple stated that it wanted to reduce operating costs by $500 million annually and anticipated an increase in gross margins by the fourth quarter of its fiscal year 1997. When Steve Jobs took over Apple in 1997, executives were treated similarly to former Twitter CEO Parag Agrawal and his colleagues last week: they were shown the door.