Elon Musk continues to try to cut costs as much as possible Twitter. In barely a month and a half, the social network has lost half of its workers, advertisers have fled in fright, the tycoon has fired the moderation board and, furthermore, it has worked hard to popularize new forms of financing, such as the subscription service Twitter Blue, which was relaunched earlier in the week. But the thing does not stop there.
According to ‘The New York Times’, the social network has stopped paying the rent for its offices and is considering stopping paying compensation to its former workers.
The little bird site is also preparing for the start of the legal battles that will start due to the establishment of these policies. To do this, changes have been made in the company’s legal department, which would have used professionals from other Musk-owned firms, such as SpaceX o Tesla.
The aforementioned medium points out that the companyHe hasn’t paid the rent for his headquarters in San Francisco for weeks, the one for which Musk entered at the end of October with a huge sink in his hands and a smile from ear to ear. The same has happened with the rest of the offices that the company has scattered around the globe. The tycoon, according to people familiar with the internal situation of the ‘app’, has instructed employees not to pay suppliers before a possible litigation.
It should be remembered that, during the last few weeks, many companies have stopped showing advertising in the social network or have reduced their investment in a business that also represents 99% of the company’s income. The site dedicated to fact-checking progressive news, Media Matters for America, recently pointed out that the platform had lost half of its top 100 advertisers.
Musk’s goal is to change Twitter’s business model to keep the ship afloat. Specifically, betting on the business of subscriptions to its Blue payment service, which, among other things, allows you to have a verified account in exchange for payments that range between 8 and 11 dollars. In the future, everything indicates that the experience of using the platform will be completely different depending on whether the Internet user is paying or not.