Notify the new owner of Twitter, Elon Musk In an email to his employees, he said that the company’s bankruptcy was not excluded, and warned them that the company could lose billions of dollars next year.
On Wednesday night, Musk sent the first two company-wide messages to his employees who survived the mass layoffs that took place last week, ordering them to return to the offices immediately and work for at least 40 hours a week, and also warned them of difficult times ahead, according to what was reported by the Associated Press. “.
As Musk said in one of his letters, before describing the poor economic climate for companies like Twitter, which rely almost entirely on advertising to make money, “I’m sorry this is the first email I’ve sent to the entire company, but there is no way to embellish the message.”
“Without significant subscription revenue, there is no good chance Twitter will survive the next economic slowdown. We need to be close to half of our revenue from subscriptions,” he explained.
Musk’s message followed a conversation that was broadcast live in an attempt to mollify top advertisers on Wednesday, his most comprehensive public comments about the future direction of the blue app since he struck a $44 billion deal to buy the social media platform late last month and fired its top executives.
Many have had to rely on the billionaire and Tesla CEO’s public tweets for clues about Twitter’s future.
50% reduction in the workforce
An executive said last week that Twitter had cut nearly 50% of its workforce of 7,500 employees earlier this year.
It is noteworthy that Musk had acquired Twitter, late last month (October 2022), for $44 billion, after many months of tug-of-war.
Since the completion of the acquisition deal, he moved quickly to put his mark on the company, and dismissed its former president, Paraj Agrawal and other senior officials, to turn the rosary later!