In just three weeks at the helm of Twitter, Elon Musk The company continues to face layoffs of key employees. that way, The executive indicated that bankruptcy is an option for the company’s future.
According to an email shared with employees mid-week, Musk not only mentioned that Twitter Blue, the platform’s subscription service, would have to make an extra effort to generate half of the company’s revenue. , but noted that, If companies withdraw their ads from social networks, bankruptcy is one thing they may face. This is what he commented:
“Without significant subscription revenue, Twitter likely won’t survive the next economic downturn. We need about half of our revenue from subscriptions.”
The statement came as Twitter made substantial staff cuts. Earlier in the week, thousands of workers were laid off, and Others decided to jump ship before it sank. The incident follows the resignation of three top security officers: Chief Information Security Officer Leah Kisner, Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty.
In addition, Color of Change president Rashad Robinson revealed two Employees hired for the purpose of maintaining company advertisements on Twitter, also resigned, which does not paint a positive picture for the social network. On a related note, working from home on Twitter is over. Similarly, fake accounts are already becoming more common on this social network.
Clearly, Elon Musk is not doing well. His ideas may sound good on paper, but his free speech vision only gives more weapons to those who want to spread hate speech, which big companies don’t like.