Twitter tycoon Elon Musk, the sole owner of Twitter, told the platform’s employees on Thursday that the company’s bankruptcy cannot be ruled out, according to Bloomberg and other economic media.
“Declaration of bankruptcy cannot be ruled out,” he said in a face-to-face meeting with employees at the headquarters in San Francisco, noting that remote work is over and that they must return to the offices, under penalty of dismissal.
In this environment of uncertainty, several directors of the company continue to leave their positions, including Yoel Roth – who last week figured as a rising star on Twitter and that Musk himself often cited in his tweets – and Robin Wheeler, according to the same agency. , citing sources who requested anonymity.
Roth and Wheeler followed Musk through his first steps into Twitter as a sole proprietor and helped him, through tweets that Musk later retweeted, outline a new content moderation policy aimed at reassuring users, but above all advertisers, the network’s main source of income.
These two names add to the departures of other executives known hours earlier: Lea Kissner, Damien Kieran and Marianne Fogarty, who passed as heads of the user security units and who allegedly left the company in the last few hours (only Kissner confirmed on his own account online).
The New York Post did not hesitate to describe the incident as “abandonment of a sinking ship”.
Musk, who last Friday said the company was losing $4 million a day and on Thursday admitted he sold 19.5 million shares (for nearly $4 billion) of his electric car company Tesla to “save” Twitter, no longer seems so sure what it can do.
If on Wednesday (9) he sent a message to all employees acknowledging that “the economic outlook is alarming”, this Thursday he said that the company urgently needed to convince users to pay the required $8 for verified accounts. , a very controversial idea that generates controversy in the network itself.
Advertisers, meanwhile, were unclear about Musk’s plans and there were several – including General Motors and Volkswagen – who prudently withdrew their ads from the network until they had an idea of the platform’s future.
The Federal Trade Commission spoke out on Thursday, through a spokesperson, saying it is closely following “with deep concern” the latest developments on Twitter, reminding Musk that “no CEO is above the law” and which has sufficient tools “to ensure compliance” with the standards.
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