Elon Musk Tells Twitter Staff Bankruptcy Is An Option: Report

Twitter may be in even worse shape than many thought.

Ever since Elon Musk became the new head of Twitter, the platform has been in chaos. There was a fear that the billionaire Tesla owner was in over his head—and those concerns may be valid. With Musk at the helm, Twitter saw a dramatic rise in the use of the n-word.

There has been rolling news coming out about Twitter’s changes within the last few weeks, and most have been discouraging. Musk reportedly fired several employees, banned people who mocked him, and pushed personal politics.

Now, according to a new report, things aren’t getting any better at Twitter Headquarters. Musk allegedly held a meeting where he spoke on the platform’s declining finances. He reportedly revealed, “Bankruptcy is not out of the question.”

Twitter’s financial problems were examined in great detail amid Musk’s $44 billion deal. Further, it hasn’t been profitable since 2019, and by 2023, Twitter could be in the hole into the billions.

The reason we’re going hardcore on subscribers is to keep Twitter alive,” Musk reportedly said. He has been promoting the new verified subscription service for $8, but it hasn’t gone over well. LeBron James found himself at the center of controversy after a fake account tweeted he was leaving the Los Angeles Lakers.

Parody accounts have thrived on Twitter and its new paid subscription only increased the satire. Additionally, senior-level executives have also left the company, and Musk reportedly told remote workers to now work in the office.

Read through a few updates from Twitter users below. From parody accounts to laying off employees, things look bleak for the mega-company. One of its creators, Jack Dorsey, has also taken hits after he seemingly supported Musk’s takeover.

Spokesperson for pharmaceutical giant Eli Lilly says they’re in communication with Twitter to address the fake-but-verified Eli Lilly tweet that has been up for three hours and has 1,500 retweets and 10,000 likes https://t.co/Ai3lq50YRh pic.twitter.com/zIWDsd8c0B

— Drew Harwell (@drewharwell) November 10, 2022

Elon Musk, in his first messages to Twitter employees after mass layoffs, painted a bleak financial picture and outlined changes at the company, including an end to its remote work policy and a renewed focus on generating revenue. https://t.co/bYWfLsMAcF pic.twitter.com/EG5VLYKD3z

— The New York Times (@nytimes) November 10, 2022

Here’s the first official communication from Twitter’s new leadership to its staff, a week after Musk took over: a fun game where you get to find out if you’re laid off or not based by 9am tomorrow, based on whether the email pops up in your Twitter account or personal account. pic.twitter.com/tpJsAkiaHp

— Will Oremus (@WillOremus) November 4, 2022