Gulte News
Elon Musk has been giving shocks to employees of all ranks on Twitter. He stressed that bankruptcy was a possibility if it doesn’t start generating more cash. Musk’s reign at the social media company started with a storm of layoffs, continued with Twitter’s blue charge of $8 per account subscription and now some employees in crucial roles have resigned though Elon Musk persuaded them to stay on.
Amid this, Elon Musk recently addressed the remaining employees about many topics and also issued a good number of warnings. He reportedly asked them to be prepared for 80-hour work weeks. There will be fewer office perks like free food.
Musk ended the work-from-home facility from the pandemic era. ‘If you don’t want to come, resignation accepted’, he reportedly said. Elon Musk in his email on Wednesday warned employees of difficult times ahead and he ended employees’ ability to work remotely unless he personally approved it, in his ‘no sugarcoated message’.
According to the reports, Musk loaded the company with $13 billion of debt which is now in the hands of seven Wall Street banks. The banks are desperate to offload the loan to investors and some were even offering to buy the loans for as little as 60 cents on the dollar, the price done only with companies in financial distress.
