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In meeting with employees, Elon Musk says he does not rule out Twitter bankruptcy

Twitter tycoon Elon Musk, the sole owner of Twitter, said this Thursday (10) to the platform’s employees that the company’s bankruptcy cannot be ruled out, according to the Bloomberg agency and other media. of economic communication.

“Declaration of bankruptcy cannot be ruled out”, he said in a face-to-face meeting with the employees of the headquarters in San Francisco, remembering that remote work is over and that they must return to the offices, under penalty of dismissal.

In this environment of uncertainty, several directors of the company continue to leave their positions, including Yoel Roth – who last week figured as a rising star on Twitter and that Musk himself cited frequently in their tweets – and Robin Wheeler, according to the same agency, citing sources who requested anonymity.

Roth and Wheeler followed Musk in his first steps on Twitter as sole proprietor and helped him, through of tweets that Musk later retweeted, outlining a new policy of content moderation that aimed to reassure users, but above all advertisers, the network’s main source of income.

These two names add to the departures of other executives known hours earlier: Lea Kissner , Damien Kieran and Marianne Fogarty, who passed as heads of the user security units and who allegedly left the company in the last few hours (only Kissner confirmed on his own online account).

The newspaper The New York Post did not hesitate to describe what happened as “abandonment of a sinking ship.”

Musk, who last Friday said the company was losing $4 million a day and this Thursday On Tuesday, admitting he sold 19, 5 million shares (for nearly $4 billion) of his electric car company Tesla to “save” Twitter, he no longer seems so sure what he can do.

If on Wednesday (9) he sent a message to all employees acknowledging that “the economic outlook is alarming”, n this Thursday he said that the company urgently needed to convince users to pay the required $8 for verified accounts, a very controversial idea that generates controversy in the network itself.

Advertisers, for In turn, they were not clear about Musk’s plans and there were several – including General Motors and Volkswagen – who prudently withdrew their ads from the network until they had an idea of ​​the future of the platform.

The Federal Commission Commerce spoke out on Thursday, through a spokesperson, saying it is closely following “with deep concern” the latest developments on Twitter, reminding Musk that “no CEO is above the law” and that he has tools sufficient “to ensure compliance” with the rules.

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