Elon Musk Tells Twitter Staff Bankruptcy Is An Option: Report

BYErika Marie2.7K Views
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Twitter Goes Public On The New York Stock Exchange
NEW YORK, NY - NOVEMBER 07: The Twitter logo is displayed on a banner outside the New York Stock Exchange (NYSE) on November 7, 2013 in New York City. Twitter goes public on the NYSE today and is expected to open at USD 26 per share, making the company worth an estimated USD 18 billion. (Photo by Andrew Burton/Getty Images)
Twitter may be in even worse shape than many thought.

Ever since Elon Musk became the new head of Twitter, the platform has been in chaos. There was a fear that the billionaire Tesla owner was in over his head—and those concerns may be valid. With Musk at the helm, Twitter saw a dramatic rise in the use of the n-word.

There has been rolling news coming out about Twitter's changes within the last few weeks, and most have been discouraging. Musk reportedly fired several employees, banned people who mocked him, and pushed personal politics.

(Photo by David Odisho/Getty Images)
Read More: Elon Musk Says Twitter Will Permanently Suspend “Parody” Accounts As Users Impersonate Him

Now, according to a new report, things aren't getting any better at Twitter Headquarters. Musk allegedly held a meeting where he spoke on the platform's declining finances. He reportedly revealed, "Bankruptcy is not out of the question."

Twitter's financial problems were examined in great detail amid Musk's $44 billion deal. Further, it hasn't been profitable since 2019, and by 2023, Twitter could be in the hole into the billions.

“The reason we’re going hardcore on subscribers is to keep Twitter alive,” Musk reportedly said. He has been promoting the new verified subscription service for $8, but it hasn't gone over well. LeBron James found himself at the center of controversy after a fake account tweeted he was leaving the Los Angeles Lakers.

(Photo Illustration by Scott Olson/Getty Images)
Read More: Fake LeBron James Tweet Dupes NBA Twitter

Parody accounts have thrived on Twitter and its new paid subscription only increased the satire. Additionally, senior-level executives have also left the company, and Musk reportedly told remote workers to now work in the office.

Read through a few updates from Twitter users below. From parody accounts to laying off employees, things look bleak for the mega-company. One of its creators, Jack Dorsey, has also taken hits after he seemingly supported Musk's takeover.

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About The Author
Erika Marie is a seasoned journalist, editor, and ghostwriter who works predominantly in the fields of music, spirituality, mental health advocacy, and social activism. The Los Angeles editor, storyteller, and activist has been involved in the behind-the-scenes workings of the entertainment industry for nearly two decades. E.M. attempts to write stories that are compelling while remaining informative and respectful. She's an advocate of lyrical witticism & the power of the pen. Favorites: Motown, New Jack Swing, '90s R&B, Hip Hop, Indie Rock, & Punk; Funk, Soul, Harlem Renaissance Jazz greats, and artists who innovate, not simply replicate.