Twitter continues to make headlines a month and a half after the acquisition of Elon Musk. It appears the company is no longer paying its rent.
The basics in brief
- Twitter around CEO Elon Musk currently wants to save and make money.
- According to a report, Twitter has not paid the rent for its offices for weeks.
- The company checks whether the promised severance payments cannot be paid.
Twitter is currently undergoing austerity measures and at the same time wants to increase its sales. The microblogging service has been in the headlines ever since it was acquired by Elon Musk. Most recently because the company wants to auction off inventory from its San Francisco headquarters.
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However, in search of new income, Twitter is currently holding back on open bills. As The New York Times learns from sources close to the company, Twitter hasn’t paid its rent for weeks.
All offices, including those at the headquarters in San Francisco, were affected. Insiders suspect Musk wants to renegotiate leases after the company downsizes.
Will Elon Musk refuse the promised severance pay?
The bill for several private flights booked in October also remains unpaid. The costs there are $197,725.
Apparently, Twitter doesn’t want to spend money where it should be spent, even with its former employees. As the new CEO, Elon Musk has announced that he just wants to have a “very hard” team with him.
So he gave his staff an ultimatum: join or leave. Those who leave Twitter will receive severance pay of three months’ salary.
But even these payments have not materialized for the time being. According to the report, Twitter’s leadership was weighing the consequences of refusing to pay severance pay.
Musk did not comment when asked by The New York Times.
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