Elon Musk refuses to pay millions of dollars in bills

Elon Musk refuses to pay millions of dollars in bills

Elon Musk and Twitter

Elon Musk, the CEO of Twitter, has chosen not to pay back vendors for expenses of “millions of dollars” made before his takeover. This comes after Musk implemented a number of cost-cutting steps to increase Twitter’s profitability, including layoffs at all Twitter offices worldwide.

According to reports, Musk is refusing to pay vendors for those invoices, both past and present workers, since he didn’t authorize the transaction worth millions of dollars, the New York Times stated. Since then, according to the allegation, the Twitter staff has stopped returning calls from travel suppliers.

More than 3,700 individuals have been laid off by Twitter, and the business has also critically examined all other expenditures incurred. According to the allegation, Twitter workers’ corporate credit cards have also been terminated. Nothing has escaped Musk’s inspection, according to the article, including the company’s extravagant in-office cafeteria and investments in real estate and infrastructure. The suppliers that are due millions of dollars in outstanding payments are angry about these “cost cuts.” The report was released just a few days after Musk claimed that Twitter was about to file for bankruptcy.

Just two weeks after purchasing Twitter for $44 billion, Elon Musk stated he could not rule out the idea of it going bankrupt during his first mass call with staff earlier this month. Musk warned that Twitter will not be able to “survive the approaching economic crisis” if it failed to increase subscription revenue to balance off declining advertising revenues the same day in his first company-wide email, according to Reuters.

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