Elon Musk Says Twitter Bankruptcy ‘Not Out of Mind’

Elon Musk Two weeks after taking over Twitter, he finally held a meeting with the company’s employees to answer their questions. Unofficial reports say that this meeting was held suddenly and the employees were informed less than half an hour before its holding. In part of his speech, Elon Musk said that the trend of Twitter’s revenue decline is so great that “bankruptcy is not out of mind.”

Twitter hasn’t made a profit since 2019, and since Elon Musk took over the company, the revenue from advertising has dropped significantly, as a number of advertising companies have temporarily stopped their activities on Twitter.

Elon Musk said in a meeting attended by all current employees and managers of Twitter that he expects the social network to record “several billion dollars in negative net cash flow” in 2023. Musk also said that the future of Twitter depends on the success of the new version of the subscription service Twitter Blue: “It is to keep Twitter alive that we put so much emphasis on subscription users.”

The modified version of Twitter Blue, which costs eight dollars per month, makes it possible to get a blue tick. This subscription service has become available in recent days and has created a lot of buzz. After receiving the blue tick, a large number of users faked the identity of famous people and started publishing tweets containing false information.

According to AndroidIn a face-to-face meeting with Twitter employees, Elon Musk said that the era of remote work is over and that these people should be at work for at least 40 hours a week. Before being taken over by Elon Musk, Twitter announced that its employees could work from home forever. Musk said that those who do not show up at work will be fired.

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It is said that a number of Twitter senior executives who were not fired by Elon Musk have resigned from their positions. The Chief Information Security Officer, Chief Privacy Officer and Chief Compliance Officer are all no longer working at Twitter. It is said that the resignation of these employees may cause Twitter to be fined heavily by the US Federal Trade Commission.

Bloomberg He says that two other high-ranking managers of Twitter (the head of the trust and safety department and the vice president of the customer solutions department) have resigned from their positions in this company. A day before the resignation, the two had appeared with Elon Musk in a meeting to obtain the consent of advertising companies.

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