Current:Home > reviewsSafeX Pro:Elon Musk gives Twitter employees an ultimatum: Stay or go by tomorrow -VisionFunds
SafeX Pro:Elon Musk gives Twitter employees an ultimatum: Stay or go by tomorrow
TradeEdge View
Date:2025-04-06 11:21:42
New owner Elon Musk has told remaining Twitter employees they will need to decide by Thursday afternoon whether to stay at the company or SafeX Proquit.
In an email to staff entitled "A Fork in the Road," Musk said Twitter would "need to be extremely hardcore" to succeed. Those who choose to stay should expect long, intense hours of work. Those who leave will receive three months' severance pay, he wrote.
In the ultimatum, first reported by The Washington Post, Musk wrote that he values engineers over designers, project managers and other staff in what he envisions will be "a software and servers company."
The combative message is the latest sign of escalating tensions inside Twitter, a company that has been beset by chaos and confusion since the billionaire's $44 billion takeover in October.
Musk immediately fired top executives. Since then, he's laid off about half of the staff, or roughly 3,700 employees, and fired others after they publicly criticized him. People who held key roles in divisions including content moderation, cybersecurity and legal compliance have resigned.
Musk has claimed his shakeup is part of an effort to make Twitter more profitable, something that has long been a struggle for the platform. He also says the company needs to move away from advertising and derive most of its revenue from other sources, like Twitter Blue, the now-paused service that was revamped under Musk and had a tumultuous premiere.
One issue hanging over the company: its financial outlook now that it is newly saddled with debt.
Musk borrowed $13 billion to buy Twitter in a purchase widely seen as overpriced.
Ad sales, which make up nearly all of its revenue, have dropped as advertisers take a wait-and-see approach to both the broader economy and Musk's leadership of Twitter.
Meanwhile, Twitter is estimated to have a $1 billion debt service payment on the debt Musk secured to complete his takeover, and the company's ability to make that payment has been in question.
Musk has even floated the possibility of possible bankruptcy, which would allow Twitter to restructure its debt, but remains unclear how serious Musk was about that threat.
NPR's Bobby Allyn contributed to this story.
veryGood! (43)
Related
- Trump's 'stop
- Cleanup continues in Ohio following tornados, severe weather that killed 3
- Afghan refugee convicted of murder in a case that shocked Albuquerque’s Muslim community
- Ohio mom who left toddler alone 10 days when she went on vacation pleads guilty to aggravated murder
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Federal court rules firearm restrictions on defendants awaiting trial are constitutional
- Who stole Judy Garland's red ruby slippers in 2005? The 'Wizard of Oz' theft case explained
- Stolen ‘Wizard of Oz’ ruby slippers will go on an international tour and then be auctioned
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- The Daily Money: Has the Great Resignation fizzled out?
Ranking
- Tom Holland's New Venture Revealed
- Former Vice President Mike Pence calls Trump's Jan. 6 hostage rhetoric unacceptable
- MGM Casino Denies Claims Bruno Mars Owes $50 Million Gambling Debt
- 6 former Mississippi law officers to be sentenced for torture of 2 Black men
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- When does 'Euphoria' Season 3 come out? Sydney Sweeney says filming begins soon
- Wayne Simmonds retires: Former Flyers star was NHL All-Star Game MVP
- A woman is arrested in fatal crash at San Francisco bus stop that killed 3 people
Recommendation
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
Pennsylvania House speaker pushes for same-day registration and widely available early voting
Forced sale of TikTok absolutely could happen before Election Day, Rep. Mike Gallagher says
Celine Dion shares health update in rare photo with sons
FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
Haiti's long history of crises, and its present unrest
LeBron scores 25, D’Angelo Russell ties Lakers 3-pointers record in LA’s 136-105 win over Hawks
Tallulah Willis, Bruce Willis' daughter, shares she was diagnosed with autism last year