Elon Musk informs Twitter staff of possible bankruptcy, top executives leave

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Ad revenue fell at social media companies such as Meta and YouTube amid inflation fears. Although Twitter’s advertising business contributes little to its revenue stream, the cash flow declined sharply after Musk’s takeover. Several brands have suspended their ads on the platform with little clarity on the content moderation policy on the platform.

The exodus of senior executives

Musk had delegated Yoel Roth, head of security and integrity, and Robin Wheeler, head of client solutions at Twitter, to speak to live advertisers in a bid to resume advertising. However, a day later, after Musk’s general meeting, both Roth and Wheeler left the company.

Chief Information Security Officer Lea Kissner, Chief Privacy Officer Damien Kieran and Chief Compliance Officer Marianne Fogarty also left the company earlier today, The Guardian said in his report.

Although the possibility of bankruptcy could be a reason for leaving, Musk’s management style could also contribute to the decision to quit. Since joining, Musk has redesigned Twitter’s policies for his employees, asking them to work 12-hour shifts and reiterating at the general meeting that everyone must work from a desk or leave.

Draw the wrath of the FTC

Last week, Twitter cut its workforce in half, putting a lot of pressure on its staff over how they would handle the content moderation workload. However, the recent departure of some of the heads of departments has drawn the ire of the Federal Trades Commission (FTC), the second this year.

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