Going bankrupt is not out of the question, Musk tells Twitter staff

BILLIONAIRE Elon Musk has warned Twitter employees ‘bankruptcy is not out of the question’ amid chaos at the social media giant.

The new owner told remaining staff that the company could end up with a ‘net negative cash flow of several billion dollars’ next year.

Resignations from senior executives has spelled further trouble for Twitter, which has already cut half its workforce. And a US regulator yesterday warned Mr Musk that he was ‘not above the law’ as it watched events unfold with ‘deep concern’. The firm has been in disarray since Mr Musk completed a £38billion takeover. He told staff the firm Is losing £3.4million a day, largely due to advertisers putting spending on hold over his plans to loosen content moderation.

He said: ‘If we don’t [bring in more cash] and there’s a massive negative cash flow, then bankruptcy is not out of the question.’

Racial slurs on Twitter have surged since Mr Musk’s takeover. The US-based Center for Countering Digital Hate found posts using the Nword were triple the 2022 average in his first week as owner.