--- title: "Elon Musk issues a bankruptcy warning as further senior Twitter executives leave" description: "Elon Musk previously asserted that Twitter is losing around $4 million every day." author: "Muskan Singh" published: 2022-11-11 canonical: https://www.mindstick.com/news/2317/elon-musk-issues-a-bankruptcy-warning-as-further-senior-twitter-executives-leave category: "twitter" tags: ["twitter", "technology", "social media", "technology news", "research"] reading_time: 2 minutes --- # Elon Musk issues a bankruptcy warning as further senior Twitter executives leave ``` Elon Musk addressed the surviving employees of the company two weeks after taking over Twitter. Musk claimed that Twitter is losing so much money that bankruptcy is not ruled out during an all-hands meeting. ``` Elon Musk, the new owner of Twitter Inc., said on Thursday that the [social media](https://www.mindstick.com/articles/13056/how-to-leverage-social-media-to-attract-lots-of-blog-traffic) site might go bankrupt, capping a hectic day that also saw the company's head of trust and safety leave and a privacy regulator in the US issue a warning. Two weeks after purchasing it for **$44 billion**, according to credit experts, a purchase that has put Twitter's finances in jeopardy, the billionaire stated on his first mass call with employees that he could not rule out [bankruptcy](https://www.mindstick.com/blog/299494/3-common-alternatives-to-avoid-chapter-7-bankruptcy). Musk had earlier warned that **Twitter** wouldn't be able to 'survive the upcoming [economic downturn](https://answers.mindstick.com/qa/43369/how-did-fdr-trigger-a-new-economic-downturn-in-1937)' if it didn't increase [subscription](https://www.mindstick.com/news/3093/meta-launches-quest-subscription-for-vr-headsets) revenue to counteract declining [advertising](https://www.mindstick.com/articles/13080/wikipedia-the-most-powerful-advertising-platform-of-the-digital-age) income. This was in his first company-wide email sent earlier in the day. Yoel Roth, who oversaw Twitter's efforts to tackle spam, [misinformation](https://www.mindstick.com/blog/304586/the-role-of-advertisement-to-spread-misinformation), and hate speech on the service, announced his resignation on Thursday. **Roth identified himself as the company's 'Former Head of Trust & Safety' in his Twitter bio on Thursday.** Lea Kissner, Twitter's chief [information security](https://www.mindstick.com/blog/246009/information-security-is-not-information-technology) officer, announced her resignation earlier on Thursday. **Damien Kieran, Twitter's chief privacy officer, and Marianne Fogarty, its chief compliance officer,** both announced their resignations on Thursday, per an internal message shared to the company's Slack messaging platform. In contrast to earlier media reports that she too would be leaving, the **business's top ad sales executive, Robin Wheeler,** assured staff in a memo that she was staying at the company. Musk warned that Twitter may lose billions of dollars next year in his first meeting with several staff on Thursday afternoon. The email from Musk to employees stated that [remote work](https://www.mindstick.com/blog/297351/how-to-effectively-utilise-remote-working-as-a-growing-business) will no longer be permitted and that employees would be expected to work for a minimum of 40 hours per week. Requests for comment on a prospective bankruptcy, the FTC warning, or the departures went unanswered by **Twitter**, Musk, and Spiro. After assuming control on October 27, Musk brutally attempted to purge the organisation and claimed that the company was losing more than $4 million every day, mostly as a result of sponsors leaving after he took charge. --- Original Source: https://www.mindstick.com/news/2317/elon-musk-issues-a-bankruptcy-warning-as-further-senior-twitter-executives-leave Copyright © MindStick Software Pvt. Ltd. This Markdown version is provided for developers, AI systems, and offline reading.