Elon Musk warns Twitter employees that 'bankruptcy isn’t out of the question'
11 November 2022, 16:40 | Updated: 11 November 2022, 16:43
Elon Musk has warned Twitter employees that 'bankruptcy isn’t out of the question'.
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Mr Musk highlighted the problem on an all-staff call held on Thursday evening, it has emerged.
The grim predictions follow the company's current financial difficulties after an exodus of advertisers.
"We just definitely need to bring in more cash than we spend," Mr Musk said.
"If we don’t do that and there’s a massive negative cash flow then bankruptcy is not out of the question."
He also said that he wants one billion users on the platform.
"So in order for us to achieve that good, how do we get a lot of people on the platform?" he asked.
"There are 8 billion humans. If we don’t have at least a billion humans on the system, then we have a very small percentage of humans."
Read more: Elon Musk defends slashing Twitter workforce saying social media firm ‘loses more than $4m a day’
Despite his comments in the internal meeting, Mr Musk remained positive on Twitter on Thursday, insisting: "Usage of Twitter continues to rise."
His controversial decision to introduce 'Twitter Blue' has seen a huge reaction on the platform, with anyone being able to adopt a blue tick at the price of $8 a month.
The subsequent uproar from some users appears to have worked in his favour after he "hit all-time high of active users" following its implementation.
Usage of Twitter continues to rise. One thing is for sure: it isn’t boring!
— Elon Musk (@elonmusk) November 10, 2022
Mr Musk has slashed Twitter's workforce by thousands, most recently telling employees they could no longer work from home.
"Remote work is no longer allowed, unless you have a specific exception. Managers will send the exception lists to me for review and approval," the Tesla boss wrote.
He told staff the "road ahead is arduous and will require intense work to succeed" and that "over the next few days, the absolute top priority is finding and suspending any verified bots/trolls/spam".
Mr Musk completed his purchase of the social media platform for the equivalent of £38.7bn in October.
