The New York Times: “Twitter is said to have stopped paying rent at its Seattle office, leading it to face eviction. Janitorial and security services have been cut, and in some cases employees have resorted to bringing their own toilet paper to the office...Elon Musk has reduced the company to a bare-bones operation, and employees are under a “zero-based budgeting” mandate to justify any spending. Early on Christmas Eve, members of the billionaire’s staff flew to Sacramento — the site of one Twitter’s three main computing storage facilities — to disconnect servers that had kept the social network running smoothly. Some employees were worried that losing those servers could cause problems, but saving money was the priority, according to two people who were familiar with the move but not authorized to talk about it. The data center shutdown was one of many drastic steps Mr. Musk has undertaken to stabilize Twitter’s finances. Over the past few weeks, Twitter had stopped paying millions of dollars in rent and services, and Mr. Musk had told his subordinates to renegotiate those agreements or simply end them. The company has stopped paying rent at its Seattle office, leading it to face eviction, two people familiar with the matter said. Janitorial and security services have been cut, and in some cases employees have resorted to bringing their own toilet paper to the office. Mr. Musk bought the social network for $44 billion in late October, saddling it with debt that will require him to pay about $1 billion in interest annually. Speaking on a live forum on Twitter last week, Mr. Musk compared the company to a “plane that is headed towards the ground at high speed with the engines on fire and the controls don’t work.” Twitter was on track to have a “negative cash flow situation” of about $3 billion in 2023, he said, citing a depressed advertising environment and increased costs, like the debt payments…”
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