Elon Musk is no stranger to headlines and this week will be no different. During a recent internal meeting with employees at Twitter, Musk warned that bankruptcy is “not out of question” for the social media platform.
“I think we just definitely need to make–bring in more cash than we spend or if we don’t do that and there’s a massive negative cash flow, then bankruptcy is not out of question,” Musk told Twitter employees during an internal meeting, according to ABC News.
“We can’t scale to a billion users and take massive losses along the way.”
In addition to discussing a potential bankruptcy filing, Musk also made a major change to the company’s policy regarding remote working environments. In March, Twitter made the decision to allow employees to work from home permanently. Eight months later, Musk has reversed that policy and demanded that employees return to the office immediately.
“Let me be crystal clear, if people do not return to the office when they are able to return to the office — they cannot remain at the company,” Musk said, according to ABC News.
“End of story.”
When one employee questioned Musk’s decision, he doubled down on his decision.
“Even if people returned to the office. The offices are separate offices — we won’t be in person anyways.” one employee said, according to ABC News.
Yes, but you can still maximize the amount of in-person activity,” Musk replied.
Beyond changing the company’s remote work policy, Musk has also begun the process of laying off nearly half of Twitter’s workforce. He is also expected to face a lawsuit from several current and former employees regarding the decisions he has made since taking over Twitter.
