Elon Musk tells Twitter employees that "bankruptcy is not out of the question"

Two weeks after taking over Twitter, Elon Musk finally addressed the company's remaining staff and the message was grim. Speaking at a town hall meeting, Musk said Twitter was losing so much money that "bankruptcy isn't out of the question," The Information and Platform< reported. /em>r.< /p>

Twitter hasn't made a profit since 2019, and ad revenue has fallen significantly since the Musk takeover as advertisers pull out of the platform. In total, Musk said Twitter could have "multi-billion dollar net negative cash flow" in 2023, according to The Information. He also suggested that the future of Twitter hinged on the success of the new version. Twitter Blue subscription service.

“The reason we fight followers is to keep Twitter alive,” he said.

Musk also told employees, again, that they had to work from the Twitter office, a reversal of the company's previous "work from anywhere" policy. "If you can physically get to an office and you don't show up, the resignation is accepted," he said, Platformer's Zoe Schiffer reported.

Twitter is also rapidly losing senior executives who survived Musk's layoffs. The company's chief information security officer, privacy officer and chief compliance officer all recently resigned, exposing the company to potential new fines from the FTC. And two other high-level executives, trust and safety chief Yoel Roth and vice president of client solutions Robin Wheeler, also resigned on Thursday, Bloomberg reported. The two had joined Musk in a town hall intended to reassure Twitter advertisers just a day before.

Meanwhile, the rollout of the new Blue subscription has been hectic. After introducing - and quickly killing - a distinct "official" checkmark, there has been a rise in scammers and pranksters impersonating politicians, celebrities and brands. Musk reportedly told employees that rooting out tick-abusing scammers was a "top priority."

We reached out to Twitter for comment.

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