'No Free Food, No WFH': Here’s a peek into Elon Musk’s survival tool kit for Twitter

Elon Musk in a bid to motivate employees to work hard to revive the ailing financial health of Twitter did not rule out the possibility of filing for bankruptcy in case if the company didn't generate enough cash, he said late on November 9, in his maiden address to the employees since taking over the company for $44 bn.

The warning came two weeks after Musk took over the reins of the company - during which several high-level executives have either stepped down or have been asked to leave. A number of employees have also been asked to stop working from home. 

$13 bn loans: Musk's revival plan

Elon Musk has acquired loans worth $13 bn from seven Wall Street banks to improve the financial health of the company. However, the banks in turn are struggling to sell the loans to the investors. The confidence in the company is so bearish that even before Musk’s ‘bankruptcy’ comments, funds were offering to buy the loans for a scanty 60 cents on the dollar - a price range reserved for companies under financial stress, according to reports. 

Efforts are in full swing by Twitter’s ‘Chief Twit’ and he used all kinds of methods to motivate and enforce employees to work hard, wherein Musk warned employees should prepare themselves for 80-hour work weeks, and fewer office perks like free food and he also discontinued the pandemic era facility of work from home.

All out efforts for revival 

Musk said, according to reports, driven by the advertiser's concerns about harmful content on the platform, the efforts towards the $8 subscription product - Twitter Blue should be expedited. Notably, Elon Musk has resorted to the argument of financial ruin to make employees work hard, according to sources. He believes that Twitter will remain in a turbulent situation until people don't work hard. 

According to another news statement, Musk had also reported a bankruptcy report. In addition, he had also referred to products he had liked to launch, which include payments, advertisements with conversation features, and interest-earning checking accounts. He further added the onboarding on the Twitter app should be as easy as on TikTok.

IMAGE: AP