Create Post
Musk warns of Twitter bankruptcy as more senior executives quit
Twitter Inc's new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company's trust and safety leader. Earlier in the day, in his first company-wide email, Musk warned that Twitter would not be able to "survive the upcoming economic downturn" if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message told Reuters. Roth did not respond to requests for comment. Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty also resigned, according to an internal message posted to Twitter's Slack messaging system on Thursday by an attorney on its privacy team and seen by Reuters. Twitter has $13 billion in debt after the deal and faces interest payments totaling close to $1.2 billion in the next 12 months. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them," Farrar said. Source: Investing.com #Twitterbankruptcy #Musk
- 2
- 0
- ₹0
