Elon Musk to Twitter employees: "Bankruptcy is not out of the question."
Recently Elon Musk has taken over Twitter. Ever since the purchase happened, many things started to change. Here's what we know.
Elon Musk has taken over Twitter and changes started to happen. The first thing that has changed was making the blue check a paid service. Things did not calm down after this though, and now Musk has some interesting explanations to make.
Elon Musk to Twitter employees: "Bankruptcy is not out of the question."
After huge layoffs, Elon Musk finally addressed the company's employees of Twitter, and the message was gloomy. According to The Information and Platformer, Musk stated during an all-hands meeting that Twitter is losing so much money that "bankruptcy is not out of the question."
Since Musk's takeover, Twitter's ad revenue has significantly decreased as advertisers withdraw from the platform. The massive layoffs have created problem and many people started to boycott the company. Therefore adversiters started to cut off their services with Twitter. Elon Musk said that the success of the updated Twitter Blue subscription service is crucial to the future of Twitter.
He stated, "The reason we’re going hard on subscribers is to keep Twitter alive."In addition, Musk reiterated to employees that they are expected to work from Twitter's office, reversing the company's previous policy of "work from anywhere." Twitter is likewise quickly losing the top leaders that endure Musk's cutbacks. The resignations of the company's chief compliance officer, chief privacy officer, and chief information security officer put the business at risk of additional FTC fines. Musk told employees that it was a “top priority” to catch con artists using the checkmark.
