Twitter’s new owner Elon Musk raised the possibility of bankruptcy for the social media platform on Thursday, capping a chaotic day that included a warning from a US privacy regulator and the departure of the company’s trust and security leader.
The billionaire in his first mass talk with workers said he could not rule out bankruptcy, two weeks after buying it for $44 billion — a deal that credit experts say has left Twitter’s finances in a insecure position.
Earlier in the day, in his first company-wide email, Musk warned that Twitter will not be able to “survive the next economic downturn” if it fails to grow subscription revenue to offset the decline in its advertising revenue, three people who have seen the message told.
Otherwise, after finalizing the deal to buy Twitter, Musk made a series of decisions at the company, laying off half of the workforce, including senior executives.
Musk even told staff that they will no longer be able to work from home.
