Report: Elon Musk Says Bankruptcy 'Not Out Of The Question' For Twitter

Elon Musk: 'Bankruptcy A Possibliity' For Twitter (Photo: Kathy Hutchins / Shutterstock.com)

TWITTER owner ELON MUSK warned employees that bankruptcy "is not out of the question," according to a tweet from the managing editor of the tech newsletter PLATFORMER yesterday. MUSK is currently in a series of all-hands meetings with the company's workers after buying the social media app for $44 billion.

Several top TWITTER executives, including YOEL ROTH, the company's Head Of Safety & Integrity, and its Chief Security Officer LEA KISSNER, have already bailed, along with Chief Privacy Officer DAMIEN KIERAN and Chief Compliance Officer MARIANNE FOGARTY.

MUSK already announced plans to cut half its workforce last week, promised to stop fake accounts and is charging $8 a month for the blue check verification.

The U.S. FEDERAL TRADE COMMISSION's Director Of Public Affairs DOUGLAS FARRAR told REUTERS, “We are tracking recent developments at TWITTER with deep concern. No CEO or company is above the law, and companies must follow our consent decrees. Our revised consent order gives us new tools to ensure compliance, and we are prepared to use them."

TWITTER did not respond to a request for comment on the FTC warning or the departures. 

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