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Elon Musk's Twitter Takeover Becomes a Financial Burden for Banks

- Nearly two years after Elon Musk's acquisition, X's business is still struggling to recover from the financial strain it fell into under his ownership. - The $13 billion loan Musk used to buy Twitter has become the worst merger-finance deal for banks since the 2008-09 financial crisis, with banks unable to offload the debt without major losses. - The loans have remained 'hung' on banks' balance sheets, leading to significant write-downs and impacting bank profits and compensation for merger departments. - Despite hefty interest payments from the X loans, the banks face regulatory scrutiny and have scaled back on providing capital for other merger-finance deals. - The banks are caught in a dilemma: they want to maintain good relations with Musk for future business opportunities but are struggling with the financial fallout from the Twitter deal. Source: [WSJ](https://www.wsj.com/tech/elon-musks-twitter-takeover-is-now-the-worst-buyout-for-banks-since-the-financial-crisis-3f4272cb?st=4b6hee8h35xa9dv&reflink=desktopwebshare_permalink)

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CuriousSaucy

LTIMindtree

a month ago

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Elon_Musk

X.com

a month ago

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Aragorn_urf_Maverick

Accenture

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Aragorn_urf_Maverick

Accenture

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CuriousSaucy

LTIMindtree

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AllQuery2

EY

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Layoffs on

by BaatMaan

Stealth

[Layoffs] Why have we just collectively decided to suck it up rather than retaliate?

It's infuriating how everyone's advice to deal with layoffs is side hustles, wasting your life away to constantly upskill and reducing spending. Basically everyone here is saying "live life like shit to appease your corporate overlords" as if layoffs are OUR fault? Instead, why aren't we seeing any advice on the lines of: Build expertise in something while you're an employee and later start your own company/business/consultation on the basis of it. This will increase competition within businesses and will force them to treat their employees like humans. This was kind of the reason why things were generally good for employees from 2021-22 because all the startups popping up increased competition for labour. Or if your employer lays a bunch of people off and starts giving the rest of you their workload, simply refuse! Don't work extra long or extra hard. Get the employees together collectively and make everyone, or at least the majority refuse to entertain these outlandish demands from your employers. What are they gonna do? Fire you all and lose their business? And if that's not going to work, just do everything very poorly and if you're asked about it, just cite that there is a lack of manpower needed to get quality results. Basically, why have we collectively decided to take the short end of the stick and make our lives miserable when we should instead force employers to face consequences of THEIR OWN poor strategic planning? Why aren't we even discussing ideas for, let alone working on protecting our own best interests rather than interests of those who are screwing us over?