11/11/2023 0 Comments Pomodoro tracker macBut the billionaire has indicated publicly that the company lost revenue as advertisers fled the platform after his takeover, and suggested that Twitter was in danger of bankruptcy. Musk took Twitter private, which means it is no longer obligated to provide transparency about its finances. Musk has dramatically overhauled the company. Musk wrote, adding that the company could be thought of as “an inverse start-up.” He said “ radical changes” at the company, including mass layoffs and cost cutting, were necessary to avoid bankruptcy and streamline operations. Musk warned workers that Twitter remained in a precarious financial position and, at one point, had been four months away from running out of money. The email, which was viewed by The New York Times, was sent to employees to announce a new stock compensation program. SAN FRANCISCO - Elon Musk said Twitter is now worth about $20 billion, according to an email he sent the company’s employees on Friday, a significant drop from the $44 billion that he paid to buy the social network in October.
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