"Quite a day" for Elon Musk and Twitter after several C-suite employees call it quits

As per reports, Musk informs that the social media platform cannot rule out bankruptcy as they are burning cash dangerously.

After laying off almost half of the company's employee base of 7500, Musk communicated for the first time with Twitter employees on November 10, Bloomberg reports.

After two weeks after acquiring the social media platform Twitter, Elon Musk has informed Twitter employees that he is not ruling out the possibility of going bankrupt. Musk told his employees on a call that the platform has been burning cash dangerously as of now. According to employee text messages seen by AFP, he also urged the employees to help Twitter reach one billion users. He also has dismissed the option of remote working for Twitter employees.

"Quite the day", Musk says in a Tweet after multiple top-level executives quit Twitter on November 10. A Reuters report states that Roth, Senior Director, Safety and Integrity, and Lea Kissner, Chief Information Security Officer, were the most recent to join the ranks of Twitter's C-suite employees who have quit post the Musk acquisition. Sarah Personetter, Chief Customer Officer, Twitter; Damien Kieran, Chief Privacy Officer; and Marianne Fogarty, Chief Compliance Officer, have also quit recently. The company's head of client solutions Robin Wheeler was also reportedly moving out but confirmed her decision to not quit Twitter later with a tweet.

I'm still here.

— Robin Wheeler  (@robinw) November 11, 2022

The walkouts followed the announcement of the addition of several new features added to the platform. These included the announcement of Twitter's Blue subscription service, which allows users to get the verification badge as well as a separate gray badge for high-profile accounts. Twitter scrapped the gray label service shortly after its announcement.

The developments have triggered Twitter to receive a warning from Federal Trade Commission, an authority that oversees consumer safety. "We are tracking recent developments at Twitter with deep concern. No CEO or company is above the law, and companies must follow our consent decrees," a spokesperson of the FTC said.