Image Source: BGR
Elon Musk, the multibillionaire, hinted about job losses in a meeting with Twitter staff if his $44 billion (£35.8 billion) acquisition bid for the social media business was successful. He also spoke about remote working, freedom of speech, and the possibility of extraterrestrial life.
Since launching his bid for the company in April, Elon Musk spoke with employees for the first time. He has stated that he may terminate the agreement if he is not given information regarding bogus accounts. Mr. Musk stated that the company’s financial status would determine layoffs at Twitter during a wide-ranging video conference with Twitter staff on Thursday.
“The business must improve its health. Currently, the costs outweigh the revenues, “he stated
“Anyone who is… a substantial contributor should have nothing to worry about,” he added. He also remarked that unless “someone is special,” he prefers to work from home.
However, he did not provide an update on the takeover talks. In addition, Twitter employees expressed their dissatisfaction with his views on the company and employee compensation on an internal communication channel.
Mr. Musk, the CEO of Tesla and SpaceX, also discussed the potential of life beyond Earth, though he stated that he has not seen “real evidence for aliens.”
In an internal letter to the company’s leadership on Thursday, a group of employees at SpaceX, where Mr. Musk is CEO, dubbed Mr. Musk a “constant source of distraction and embarrassment.”
Meanwhile, later that day, he was sued for $258 billion (£209 billion) by a Dogecoin cryptocurrency investor, who accused him of conducting a pyramid scheme to inflate its price. Mr. Musk “used his eminence as the world’s richest man to control and orchestrate the Dogecoin Pyramid Scheme for profit, exposure, and pleasure,” according to the complaint filed in New York.
Elon Musk threatened to withdraw from the buyout deal earlier this month, accusing Twitter of “thwarting” his requests to learn more about its user base. In a letter to regulators, he claimed he had the right to measure spam accounts after he claimed the sale was “on pause” pending more information, the letter formalized a conflict that had been simmering for weeks.
At the close of New York trading on Thursday, the company’s stock was trading at $37.36, significantly below Mr. Musk’s offer price of $54.20.
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