Twitter owner Elon Musk warned employees during his first speech that the possibility of bankruptcy cannot be ruled out if the company fails to generate more cash, reports Bloomberg.
Musk’s warning comes amid several resignations from top executives at the company. It is also just two weeks after he took the reins of the social media platform, during which he has been making news constantly.
During that period, the controversial tycoon fired most of the top executives and half of the company’s staff by email. The remaining employees have been ordered to return to the office. This is despite the fact that many had stated that they did not want to do so.
One of the executives who resigned was Yoel Roth, the company’s chief security and integrity officer. Another departure was chief cybersecurity officer Lea Kissner. Also quitting was the vice president of sales, Robin Wheeler, whom Musk had convinced to stay, according to individuals who spoke on condition of anonymity.
Musk’s comments about the company in recent days have raised the level of uncertainty and distrust to the maximum. Bloomberg said some funds have offered to buy the loans for as little as 60 cents on the dollar….
