Foreign media reported Thursday (10) that new Twitter boss Elon Musk warned employees that the future economic situation is very bad and cannot rule out the possibility of Twitter going bankrupt next year.
On Thursday, platformer executive editor Zoë Schiffer tweeted that Musk said in a speech to all employees after the $ 44 billion Twitter acquisition that he didn’t know what Twitter’s entry rate was and that Twitter could declare. bankruptcy next year.
Additionally, according to Musk’s e-letter to all Twitter employees: “Twitter will end the ‘work from home’ policy and expect employees to work at least 40 hours a week in Twitter offices. If employees can’t follow this new policy, they may wish to resign. “
Musk also warned employees that the company might not survive a recession without Twitter’s huge subscription revenue. He wants to change the business of the company so that it generates at least half of its revenue from subscriptions and reduces its dependence on advertising, but still expects Twitter to make significant revenue from advertisers.
Following Musk’s successful acquisition of Twitter, he is rapidly pursuing several reforms, firing the company’s top executives, dismantling the board of directors and making the company private.
Last week Musk fired about 3,700 Twitter employees, or roughly half of his total number of employees, and several senior Twitter executives left recently. Security chief Lea Kissner both resigned.
Twitter’s loss of its head of security, privacy and compliance could spell more trouble for the social media giant, in a rare warning from the Federal Trade Commission (FTC), which is watching Twitter closely.
Musk has been trying to help Twitter increase its revenue streams in any way, including introducing the controversial $ 8-per-month certified “Blue Tick” service.
And advertisers, including Pfizer (PFE-USA), General Motors (GM-USA) and General Mills (GIS-USA), including some major advertisers, have canceled or suspended their paid advertising spend on Twitter.
Musk tweeted on Friday (4th) that Twitter’s revenue dropped dramatically as more advertisers suspended paid ad spending on the Twitter platform, but did not provide detailed data.
