November 11, 2022
Musk has revealed that Twitter’s financial future is precarious, saying he is not sure how much the company’s mileage is, and that bankruptcy is not out of the question following the departure of top privacy and security executives.
Musk’s email detailed the company’s dire financial situation and stressed the importance of its $8 subscription service Twitter Blue to its future.
The email told Twitter employees that remote work was no longer permitted, and they would have to work at least 40 hours a week in the office, a move reportedly mirroring policies at Musk’s other companies, SpaceX and Tesla, where he reportedly ordered employees to work at least 40 hours a week or leave.
The departures of Yoel Roth, Robin Wheeler, Lea Kissner, Twitter’s senior chief information and security officer, CEO Parag Agrawal, General Counsel Sean Edgett, Legal Policy chief Vijaya Gadde, Damien Kieran, the chief privacy officer, and Marianne Fogarty, the Chief Compliance Officer, have exacerbated Twitter’s problems.
All of this prompted the Federal Trade Commission to monitor Twitter under its new owner, Elon Musk, after agreeing with the company to give it oversight over certain security and privacy practices.
The sources for this piece include articles in Reuters and CNBC.
