Twitter could go bankrupt, Musk warns employees
source link: https://www.gsmarena.com/twitter_could_go_bankrupt_musk_warns_employees-news-56489.php
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Twitter could go bankrupt, Musk warns employees
Elon Musk, Twitter’s new owner and newly CEO, revealed to employees in a mass call that bankruptcy of the social media should not be ruled out. The announcement comes hours after a mass e-mail, in which Musk warned that the company might not “survive the upcoming economic downturn” if it fails to boost subscription revenue to offset the diminishing income from advertising.
Reuters reports that the disarray in Twitter was also fueled by the exit of key executives, including the Chief Information Security Officer and Yoel Roth, the Head of Trust & Safety.
Roth was overseeing Twitter’s response to hate speech, misinformation and spam, and now his Twitter account bio reveals he is a “Former Head” at the company. The Chief Privacy Officer and Chief Compliance Officer also left, according to an internal Slack message. One person that decided to stay at least for now is Robin Wheeler, the company’s top ad executive.
The US Federal Trade Commission is watching Twitter with “deep concern”, after the privacy and compliance executives left the company. These exits put the social media at risk of violating regulatory orders, but Musk’s attorney Alex Spiro revealed the team is having “a constructive ongoing dialogue” on the matter.
The reason the FTC is tracking the development at Twitter is that social media already misused personal information, such as phone numbers that were given to advertisers. However, Spiro tried to calm the situation, saying “Elon puts rockets into space, he’s not afraid of the FTC” without clarifying the connection between the two.
Recommend
-
9
Elon Musk Tells SpaceX Employees That The Company Might Go Bankrupt 6165 members Technology The latest news, reviews...
-
4
Elon Musk warns Twitter CEO over text message exposure
-
6
TechFormer employees say issues plagued the crypto company Celsius years ahead of ba...
-
5
US mortgage lenders are starting to go bankrupt — how this one factor could be triggering the worst surge of failures since 2008Chris ClarkTue, August 30, 2022, 4:15 AM
-
3
Crypto WorldBitcoin miner Core Scientific issues bankruptcy warning and the s...
-
2
TechEU official warns Musk he’ll have to ‘fly by our rules’ as he buys Twitter
-
1
TwitterTwitter Could Go Bankrupt, Musk SaysWhat's the fastest way to burn $44 billion? We may be about to find out.
-
5
Elon Musk warns Twitter managers they'll be fired for backing employees who are not 'excellent,' even as hundreds refuse to work for Twitter 2.0Kali HaysFri, November 18,...
-
3
With new mortgages down 47%, US lenders ar...
-
3
New FTX boss John Ray could bring back bankrupt crypto firmPublished6 hours ago
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK