Re:Twitter to start layoffs -internal email
by papercrane on Thursday November 03, 2022 @10:17PM
(#33461074)
The board represents the shareholders, of course they were going to take an over market offer. If they hadn't they'd be mired in shareholder lawsuits til the end of time.
Re:Twitter to start layoffs -internal email
by dmak on Thursday November 03, 2022 @10:10PM
(#33461002)
That was a hard red pill to swallow.
Oh sure. The board and upper management were inept and ineffectual, I don't think anyone will argue otherwise. But so what?
Re:Twitter to start layoffs -internal email
by drc500free on Friday November 04, 2022 @01:29PM
(#33470507)
The management and the shareholders are not the same thing. The board represents the shareholders, not the management. If they don't take the offer they get sued for breaching fiduciary responsibility.
But they did right? As in the group lacks conviction.
There was not a single stipulation in that sale that said “please keep our people on for X amount of time”.
They took the cash and bounced.