Two weeks after taking over Twitter, Elon Musk has finally addressed the company’s remaining staff and the message was bleak. Speaking at an all-hands meeting, Musk said that Twitter is losing so much money that “bankruptcy is not out of the question,” The Information and Platformer reported.
Twitter hasn’t turned a profit since 2019, and ad revenue has declined significantly since Musk’s takeover as advertisers pull back from the platform. At the all-hands, Musk suggested that Twitter’s future depends upon the success of the revamped Twitter Blue subscription service.
“The reason we’re going hardcore on subscribers is to keep Twitter alive,” he said, according to The Information.
Musk also told employees, again, that they are expected to work from Twitter’s office, a reversal of the company’s previous “work from anywhere” policy. “If you can physically make it to an office and you don’t show up, resignation accepted,” he said, Platformer’s Zoe Schiffer, reported.
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