After the Bell: mass exodus at Twitter; Carvana layoffs; more Americans living paycheck to paycheck
INDIANAPOLIS (WISH) — Twitter offices are closed until Monday after yet another mass exodus of employees Thursday night, but how many wonder what could happen to the social media company.
Elon Musk gave the ultimatum to work “extremely hardcore” or leave.
Apparently, many employees opted to bolt. One of them says Twitter will struggle to keep the lights on.
Users are tweeting about the possibility of sending their final messages if Musk and team can’t keep the platform functioning. The hashtag #RIPTwitter was trending Friday.
Carvana workforce layoffs
Carvana will lay off 1,500 employees, about 8% of its workforce.
The company’s stock has plunged 97% this year, and dropped another 7% Friday alone.
Investors are concerned about Carvana’s long-term trajectory.
Americans living paycheck to paycheck
Sixty percent of Americans are living paycheck to paycheck, right as we head into the peak shopping season. That’s up about 4% from 2021.
Prices are higher, day-to-day expenses are higher, and average hourly earnings are down 3% from a year ago.
Taylor Swift speaking out
Musician Taylor Swift is speaking out after her ticket sale essentially broke Ticketmaster.
On her Instagram account, she says “it’s difficult to trust and outside entity, and it’s excruciating for me to just watch mistakes happen with no recourse.”
One concert executive says demand for Swift on Tuesday alone could have filled 900 stadiums.