Twitter has been frugal by not paying rent on its San Francisco or global headquarters. Sources told The New York Times that the company is considering not paying severance to the laid-off workers. The social media behemoth appears in severe financial trouble due to its numerous creditors.
He just got rid of the board advising him on securing the social networking site. In addition to restructuring the legal staff, he eliminated the communications division.
Thousands of Twitter employees were recently laid off, and the source claims that Elon Musk is considering not paying them severance.?
"Twitter¡¯s leaders have also discussed the consequences of denying severance payments to thousands of people who have been laid off since the takeover," the report stated.?
The new CEO of Twitter is said to have told employees not to talk about this with the press.
Elon Musk has been avoiding paying millions of dollars in travel invoices and other services that the social media firm was obligated to pay before he purchased Twitter to cut expenses.
According to the same source, the company's new boss has lately stated that it would not be paying out any reimbursements to the company's travel suppliers or contract services because they were allowed by the old management.?
Since then, people familiar with the situation told the NYT that Musk's team has avoided contacting travel suppliers.
One source claims that Twitter employees were told to "review, renegotiate," and potentially stop paying some third-party service providers. Computing, travel, software services, real estate, and even office cafeteria meals are supposedly on the company's bill.?
Soon after Musk bought Twitter, the social media behemoth started losing money, as several of its biggest sponsors pulled their ads. However, the two companies rejoined once Musk talked with Apple and Amazon.
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