Elon Musk, in his first address to Twitter employees since purchasing the company for $44 billion, said that bankruptcy was a possibility, according to a person familiar with the matter
lon Musk, in his first address to Twitter Inc. employees since purchasing the company for $44 billion, said that bankruptcy was a possibility, according to a person familiar with the matter.as part of Elon Musk’s new leadership team, have resigned, according to another person familiar with the matter, who asked not to be identified discussing non-public information.
The social network has a significant debt burden from the acquisition, and has seen a pullback from some advertisers that are concerned about Musk’s plans for content moderation. The Information and Platformer earlier reported Musk’s bankruptcy statement. In discussing Twitter’s finances and future, Musk said the company needed to move with urgency to make its $8 subscription product, Twitter Blue, something users will want to pay for given the pull back by advertisers impacting revenue.late Wednesday warned employees of “difficult times ahead,” with “no way to sugarcoat the message” about the economic outlook for the company. He ended employees’ ability to work remotely unless he personally approved it.
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