Elon Musk has dropped a bombshell on employees, saying a Twitter bankruptcy was not out of the question.
Since his purchase of the social media platform, Musk has conducted mass layoffs, fired top executives, let much of the moderation team go, made an utter mess of the platform’s verification system, killed off remote work and, to top it all off, is now saying the company could go bankrupt.
Zoë Schiffer, Platformer’s Managing Editor, shared the news via Twitter:
While the company hasn’t made a profit since 2019, things seem to be taking a major downturn since Musk took over. The company has lost some of its biggest advertisers over concerns about an increase in hate speech since Musk’s purchase, raising further doubt about the company’s financial future.