Elon Musk continues to shake up Twitter’s direction. According to New York Timesthe billionaire continues to multiply the drastic measures to reduce the company’s expenses, even if this risks interfering with American justice.
The company pays neither rent nor bills
As soon as he arrived at the head of Twitter, Musk was confronted with the large debt generated by the takeover, in addition to the difficulty for the social network to be profitable: in ten years, he was profitable for only two years. . The businessman quickly dismissed many managers in the company as well as a large part of his employees and did not hesitate to mention a potential bankruptcy with the remaining employees.
Since then, Elon Musk has taken many measures to reduce costs, and the list of these continues to grow. As the US media reports, Twitter has not paid the rent for its headquarters in San Francisco or any of its global offices for weeks. The company also refused to pay a nearly $200,000 bill for private flights flown the week after Musk took over.
In addition, several platform executives discussed the consequences of refusing to pay severance pay to the thousands of people who have been let go since the takeover. Elon Musk has even threatened employees with legal action if they spoke to the media and “ acted in a manner contrary to the company’s interests “.
Twitter flirts with illegality
In that regard, the company is preparing for possible lawsuits, notably by reorganizing its legal department and dismissing one of its closest advisers. It is very possible that the company will be investigated, especially since the Federal Trade Commission (FTC) is keeping an eye on Musk’s actions.
The latter has had an agreement with Twitter since 2011, and the company has committed to implementing a privacy protection and reporting information security program by submitting all new features to authorities before they are implemented. In addition, Elon Musk has brought many lawyers working for his other companies, SpaceX and Tesla, into Twitter’s ranks.