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Elon Musk warns of possible bankruptcy on Twitter

Elon Musk warns of possible bankruptcy on Twitter

In addition to Want to charge for account verification s lay off half of the staff in a few days, Twitter’s new owner, Elon MuskAnd the Starch Thursday is likely to be Social media platform goes bankruptculminated a messy day which included a warning from a US regulator and The departure of the CEOs who are seen as the leaders of the future.

Bloomberg News reported that the billionaire said in a call with Twitter employees that bankruptcy could not be ruled out two weeks after he bought the company for $44 billion.

After implementing strong changes in the corporate culture of the organizationIn his first meeting with all Twitter employees, Musk warned that the company could lose billions of dollars next year. He said the company was losing more than $4 million a day, in large part because advertisers started running away as soon as he took over.

Musk saddled Twitter with $13 billion in debt, and he will have to pay about $1.2 billion in interest on it over the next 12 months. The payments exceeded Twitter’s latest cash flow, which was $1.1 billion at the end of June.

Elon Musk warns of a possible bankruptcy for Twitter. Photograph: Dadu Rovich/Reuters

More executive resignations on Twitter

Two CEOs – Yoel Roth and Robin Wheeler – who moderated Twitter Spaces’ chat with Musk on Wednesday as he attempted to Alleviate advertisers’ fearsA person familiar with the matter told Reuters they had resigned.

Several senior leaders on Twitter teams have resigned in recent days

Wheeler was the face of Twitter publicity after Musk took over. Roth, who was Twitter’s head of security and integrity, said the company reduced views of harmful content in search results by 95% compared to before the acquisition.

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Ruth and Wheeler did not immediately respond to requests for comment. Bloomberg and technology website Platforer reported their departure for the first time. earlier in the day, Twitter Security Director Leah Kesner tweeted that she had resigned.

The Chief Privacy Officer Damien Keran and Head of Compliance Marian Fogarty have also resigned, According to an internal message posted Thursday on the Twitter messaging platform Slack by a lawyer from the company’s privacy team and seen by Reuters.

The US Federal Trade Commission (FTC) said it was watching Twitter with “deep concern” after the resignations of these three privacy and compliance officials. These resignations may put Twitter at risk of violating regulatory orders.