Musk warns of Twitter bankruptcy as more senior executives quit

Twitter
Elon Musk's twitter account is seen through the Twitter logo in this illustration taken, April 25, 2022. REUTERS/Dado Ruvic/Illustration

Nov 11 (Reuters): Twitter Inc’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a U.S. privacy regulator and the exit of the company’s trust and safety leader.

The billionaire on his first mass call with employees said that he could not rule out bankruptcy, Bloomberg News reported, two weeks after buying it for $44 billion – a deal that credit experts say has left Twitter’s finances in a precarious position.

Earlier in the day, in his first company-wide email, Musk warned that Twitter would not be able to “survive the upcoming economic downturn” if it fails to boost subscription revenue to offset falling advertising income, three people who have seen the message told Reuters.

Yoel Roth, who has overseen Twitter’s response to combat hate speech, misinformation and spam on the service, resigned on Thursday, two people familiar with the matter told Reuters.

In his Twitter profile on Thursday, Roth described himself as “Former Head of Trust & Safety” at the company.

Roth did not respond to requests for comment. Bloomberg and tech site Platformer reported his exit first.

Earlier on Thursday, Twitter’s Chief Information Security Officer Lea Kissner tweeted that she had quit.


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Source: Reuters