SAN FRANCISCO — Before Elon Musk bought Twitter last month, the company’s executives had racked up hundreds of thousands of dollars in travel invoices that the social media service planned to pay.
Musk’s actions reflect the financial pressure that Twitter is under. The company took on $13 billion in loans for his buyout of the social network. The interest payments for that debt totals more than $1 billion annually. And Twitter has long faced financial difficulties, often losing money and struggling to keep up with rivals like Facebook and Google that effectively monetized their advertising products. Some advertisers have paused spending on Twitter as they evaluate Musk’s ownership.
Musk also issued an order to slow or in some cases halt transfers of funds to Twitter’s vendors and contract services, the people said. Any expenditures for services need to be approved by Birchall, three people said. Musk has since declined to pay for the travel services incurred by the former Twitter executives, the people said.
After Twitter’s contract with one software vendor expired under Musk’s ownership, that company voided a discount it had given to Twitter, one engineering manager said. When Musk called for Twitter employees to return to the company’s San Francisco offices last week to meet with him, some workers said they were concerned about booking the travel on their personal credit cards and feared not getting reimbursed. Under Musk’s ownership, Twitter has delayed paying or has denied expense reports that were submitted for approval, four current and former employees said.
Next move is just that - - MOVE - -out of California to a much cheaper real estate & labor force area. Like TX, SC, AZ, KS, MO or maybe FL.
Looks like it is the people around musk are the brains, he's making a right f... up of things, thank god. I'm getting to like this musk fella
And how would you know? More fake news!
MSM worried?