Elon Musk to Twitter employees: company bankruptcy is not ruled out

The new Twitter owner, Elon Musk, told his employees in an email that bankruptcy is not unlikely and warned them that the company could lose billions of dollars next year.

On Wednesday evening, Musk sent the first two messages – which the Associated Press reviewed – at the company level to his employees who survived the mass layoffs that took place last week, ordering them to return to offices immediately and work for a minimum of 40 hours. per week, and also warned them of the troubled times to come.

Like Musk said in one of his letters, before describing the bad economic climate for companies like Twitter, which rely almost entirely on advertising to make money, “I’m sorry this is the first email I sent to the entire company, but there isn’t way of embellishing the message “.

slowdown in I arrive

“Without significant subscription revenue, there is no good chance Twitter will survive the next economic slowdown. We need to be close to half of our subscription revenue,” he explained.

Musk’s message followed a broadcast conversation in direct in an effort to appease top advertisers on Wednesday, his most comprehensive public comments on the future direction of the blue app since he struck a $ 44 billion deal to buy the platform. social media late last month and sacked its top executives.

Many have had to rely on public tweets from the billionaire and Tesla CEO for clues about Twitter’s future.

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50% reduction in the workforce

An executive said last week that Twitter had cut nearly 50% of its 7,500-employee workforce at the start of quest’year.

Interestingly, Musk acquired Twitter at the end of last month (October 2022) for $ 44 billion after many months of tug-of-war.

Since the completion of the acquisition deal, he has moved swiftly to make his mark on the company and fired his former president, Paraj Agrawal and other senior officials, to turn the rosary. in following!

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