The situation of Twitter it could be more serious than you imagined. For the first time since he took over the company, Elon Musk he addressed Twitter employees. Or rather, with the survivors of the mass redundancies decided immediately after the transfer of ownership.
The billionaire explained that the company has been facing years of deep trouble. Twitter has piled up debt of $18.5 billion, continues to suffer losses and – partly due to a flight of advertisers – is preparing for a sharp drop in turnover. For all these reasons, Elon Musk has announced that “bankruptcy is not far-fetched”.
In short, the company could soon be forced to present the books in court. Likely in Musk’s intentions, this dark omen was meant to spur employees on and explain to them that the company’s survival is at stake. In fact, however, the entrepreneur’s speech has caused even more discomfort among Twitter employees and executives.
“Without a significant increase in subscription revenue, Twitter risks not surviving the economic downturn,” reads the message Elon Musk sent to all employees at 2:39 a.m. Thursday.
And meanwhile, there are those who have already decided to abandon ship. Yoel Roth, The number 1 on Twitter’s trust and safety team has announced his resignation. He was responsible for Twitter’s efforts to keep the platform clean and ensure effective moderation operations.
Source: Lega Nerd
