Twitter bankruptcy possible if cash burn doesn't stop, Musk tells employees

Issues multiple warnings, asks staff to brace for 80-hour work weeks

Elon Musk

Photo: Bloomberg

Ed Ludlow, Kurt Wagner, Davey Alba and Paula Seligson | Bloomberg
Elon Musk, in his first address to Twitter employees since purchasing the company for $44 billion, said that bankruptcy was a possibility if it doesn’t start generating more cash, according to people familiar with the matter.

The warning came amid a tumultuous start to Musk’s reign at the social media company -- a two-week period in which he has fired half of Twitter’s staff, ushered out most of the top executives and ordered the remaining employees to stop working from home. One executive who until Thursday had emerged as part of Musk’s new leadership team, Yoel Roth, departed, people familiar with the situation said. Another, Robin Wheeler, also resigned — but Musk persuaded her to stay on, said some of

First Published: Nov 11 2022 | 08:28 AM IST

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