Twitter may go bankrupt! Elon Musk expressed apprehension after the resignation of the officers – न्यूज़लीड India

Twitter may go bankrupt! Elon Musk expressed apprehension after the resignation of the officers


Twitter on the verge of bankruptcy, Musk fears

Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt. Elon Musk told Twitter employees on a call that he cannot rule out bankruptcy. The buyout for $44 billion comes two weeks after Bloomberg News reported that credit experts say has left Twitter’s finances in a precarious position.

official leaving twitter

official leaving twitter

Two Twitter executives Joel Roth and Robin Wheeler, who moderated a Twitter space chat with Elon Musk on Wednesday, have resigned, according to reports. Two weeks after the $44 billion Twitter deal, billionaire Elon Musk warned his employees on a conference call that he could not rule out bankruptcy of the company, Bloomberg News reported.

Twitter changes after the arrival of Elon Musk

Twitter changes after the arrival of Elon Musk

Earlier on Thursday, Twitter’s Chief Security Officer Lee Kissner tweeted that he had resigned. Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty have also resigned. At the same time, Elon Musk further told the employees on the conference call that, Twitter may have to suffer a loss of billions of dollars in the coming financial year. He had earlier claimed that the company was losing more than $4 million a day due to the layoffs of advertisers after he took office.

company in loss

company in loss

In view of the losses being incurred by Twitter, Elon Musk has asked the employees of the company to work in the office for at least 40 hours a week. He said that no employee is allowed to work from home job. Meanwhile, the regulator Federal Trade Commission (FTC) said it was watching the developments in Twitter with “deep concern”.

No one is above the law, the FTC said

No one is above the law, the FTC said

The FTC said that Elon Musk is not above the law and companies must follow our guidelines. Our revised order gives us new tools to ensure compliance and we are ready to use them. Notably, the resignations at the company potentially put Twitter at risk of violating regulatory orders. Elon Musk’s wealth has dropped by $70 billion since Twitter’s bid in April.

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