Elon Musk, the company’s new owner, said that Twitter Inc. might go bankrupt on Thursday, capping a hectic day that also saw the company’s head of trust and safety leave and a US privacy regulator issue a warning. Two weeks after purchasing it for $44 billion, the billionaire said on his first conference call with staff that he could not rule out bankruptcy, according to Bloomberg News. Credit experts claim that this transaction has put Twitter’s finances in jeopardy.
Three people who have seen the message told Reuters that Musk earlier in the day warned Twitter that if it doesn’t increase subscription revenue to balance declining advertising revenues, it won’t be able to ‘survive the next economic collapse.’
According to Reuters, Yoel Roth, who oversaw Twitter’s efforts to tackle hate speech, false information, and spam on the service, quit on Thursday. Roth identified himself as the company’s ‘Former Head of Trust & Safety’ in his Twitter bio on Thursday. Requests for comment from Roth went unanswered. His exit was initially reported by tech websites Platformer and Bloomberg.
Lea Kissner, Twitter’s chief information security officer, announced her resignation via a post on Thursday. Damien Kieran, Twitter’s chief privacy officer, and Marianne Fogarty, its chief compliance officer, both submitted their resignations, according to an internal message posted on Thursday to Twitter’s Slack messaging platform and seen by Reuters.
In contrast to earlier media reports that she too would be leaving, the company’s top ad sales executive, Robin Wheeler, told employees in a memo that she was staying at the company.
Wheeler tweeted late on Thursday, ‘I’m still here.’