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Don’t you like musk? work for us! Tech companies lure ex-Twitter employees. By Reuters

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© Reuters. FILE PHOTO: An image of Elon Musk is seen on a smartphone placed over the printed Twitter logos in this illustrated illustration on April 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Martin Coulter

LONDON (Reuters) – Postponing Elon Musk’s muscular management style? Move to us! This is the playground that talent-hungry tech companies use to try to woo thousands of exes Twitter Inc (NYSE:) has laid off two employees by the social media company under its new owner.

Twitter fired top executives and imposed sharp job cuts without warning after Musk’s troubled takeover of the social media platform. About half of the workforce – about 3,700 employees – has been laid off.

Hundreds more have reportedly resigned as a result of his sweeping reforms. The head of French operations was the latest director to leave on Monday.

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Spy Opportunity Some companies are now trying to capture experienced engineering talent by appealing to their disdain for the methods of the world’s richest person.

Katie Burke, chief human resources officer at US software company Hubspot, criticized Musk over reports that he fired a group of employees who criticized him on the company’s internal Slack channels. Reuters could not verify the reports.

“As a leader, criticism is part of your job,” she wrote in a LinkedIn post. “Great leaders understand that argument and disagreement make you better and that’s part of the process. If you want a place where you can disagree (in a kind and articulate way, of course) with people, HubSpot (NYSE:) is hiring.”

By late Monday, Burke’s post had received more than 35,000 positive reactions on Linkedin.

Twitter and Musk did not respond to requests for comment.

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Other companies are taking a similar approach to Hubspot.

Amanda Richardson, CEO of recruiting software startup CoderPad, posted an open letter to those who left Twitter.

Citing Musk’s initial ban on remote work, Richardson described Musk’s takeover as a “disheartening show” that was “deeply frustrating, endearing and disheartening.”

“At CoderPad, we believe your skills say it all. Not where you sit. Not if you sleep at work. You don’t work 7 days a week, 18 hours a day.”

Other major US tech companies including Meta and Amazon (NASDAQ:) have laid off thousands of employees in recent weeks due to the uncertain economic environment.

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But the public criticism of Musk highlights the strong demand in parts of the industry for highly skilled digital workers.

A recent report from a market analysis firm Gartner (NYSE:) has found attrition rates high, and a series of digitization efforts across corporations and government has created a “highly competitive” market for artistic talent.

Twitter’s mass job cuts and public resignations have sparked fears of the company laying off essential staff and fears that the social media “City Square” could encounter technical problems.

Michael Winning, CEO of U.S. cloud and software company Calix (NYSE: ) called the recent events at Twitter “disturbing,” and promised new recruits that they’ll enjoy the company’s culture that “starts with our team members” in a similar post on Linkedin.

“This is a great opportunity from our point of view because people who have not spoken to us before are disappointed and look down on us,” Winning told Reuters. “Toxic culture makes people say, no more.”

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Financials and Materials Drive TSX Higher By Reuters

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© Reuters. FILE PHOTO: Screen showing the price of a major Canadian stock index, the S&P/TSX Composite Index of the Toronto Stock Exchange, as it rose to a record high in Toronto, Ontario, Canada on January 7, 2021. REUTERS/Chris Helgren

(Reuters) – The main Canadian stock index rose on Thursday, supported by financial stocks and commodity-related commodities, while Canadian manufacturing data for November rose from the previous month.

At 09:33 AM ET (1433 GMT), the S&P/TSX Composite Index of the Toronto Stock Exchange rose 104.98 points, or 0.51%, at 20,558.24, approaching a six-month high.

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The Fed’s measure of inflation slowed in October, supporting the dovish Powell

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The Federal ReserveUS preferred scale inflation Data released on Thursday slowed back October, adding more support to President Jerome Powell’s signal of a near-term interest rate hike after his closely watched speech yesterday in Washington.

The essence of September PCE The price index is up 5% from a year ago, down from the 5.1% pace recorded in September and basically in line with Street expectations of 5%. The Bureau of Economic Analysis reported that the core index rose 0.2% in the month, a significant drop from September that fell within analysts’ expectations.



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Morgan Stanley Bullish on Tesla Heading into a ‘Disappointing Year for Electric Vehicles’ By Investing.com

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© Reuters. Morgan Stanley Bullish on Tesla (TSLA) Heading into ‘Disappointing Year for Electric Vehicles’

Written by Michael Elkins

Shares of electric car maker Tesla (Nasdaq) rose 0.28% in premarket trading Thursday after Morgan Stanley reiterated its outperform rating and price target of $330.00. Analysts believe that 2023 “is shaping up to be a disappointing year for electric vehicles.”

In a note, they wrote, “2023 is set to be a narratively variable year in which electric vehicle sales growth slows dramatically from 68% year-to-date and even less than 15-20% growth next year. Electric vehicles are growing at a much faster pace.” According to battery analysts in China, global battery capacity in fiscal 22 could end at more than 1.2 TWh, which is closer to double the previous year’s levels.

According to recent reports, Volkswagen AG (ETR:) It’s reportedly pushing for a “Trinity” next-generation EV platform from 2026 to the end of the decade because the software isn’t ready yet. Morgan Stanley expects to see other OEMs push their EV plans for a variety of reasons.

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MS analysts believe that the winners among the legacy names in pursuit of electric vehicles will be those that spend more economically and effectively on certain products. With the changing global economy, they believe that “legacy automakers like General Motors and Ford have an opportunity to reconsider the amount and timing of their recently laid out EV investment plans during a very different economic and interest rate environment for 2020/2021.”

They are hopeful that the more challenging economic environment in 2023 may spur the board to reconsider the size and direction of the OEM’s long-term spending plans while creating a more flexible stance for a range of potential strategic actions to improve returns.

The analysts wrote, “Once again, while we see high growth opportunities in the electric vehicle market, we believe there is room to manage investor expectations (bearish) when considering capital efficiency and profitability as we approach a period of rising capital costs and a prolonged economic downturn.”

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