Twitter is in arrears on office rent
Twitter has not paid rent for weeks at its San Francisco headquarters and offices around the world, according to reports.
Musk Shakes Up Twitter's Legal Team as He Looks to Cut More Costs - The New York Times
Twitter reportedly hasn't paid rent on its office spaces for weeks
https://www.cnbc.com/2022/12/13/twitter-reportedly-hasnt-paid-rent-on-its-office-spaces-for-weeks.html
The New York Times reported on December 13, 2022 that Twitter has been behind on the rent of its headquarters and branch offices for several weeks, and the travel expenses of the charter flight used by employees for negotiations for the acquisition of $ 197,725 (approximately 26.8 million yen) was reported to have not been paid. The reason is said to be due to the cost reduction of $ 44 billion (about 5.967 trillion yen) required by Mr. Earon Mask for the acquisition and cost reduction in anticipation of preparation for litigation.
While Musk's team wants to renegotiate the leases, real estate firms including Shorenstein, which owns Twitter's headquarters in San Francisco, have filed complaints against Twitter for delinquent rents. increase. In response to this report, the news site BoingBoing headlined 'Is Twitter preparing for bankruptcy?'
After the acquisition, Musk said that activists put pressure on advertisers to move away from Twitter and that it was suffering from a significant drop in revenue. You may.
'It's not strange for Twitter to go bankrupt anymore,' CEO Elon Musk notified by email for all employees-GIGAZINE
According to seven people familiar with Twitter's internal affairs, Mr. Musk's team is embarking on a revamp of Twitter's legal department, and in the process, they are ousting the most central advisors. For example, Musk appointed personal attorney Alex Spiro to head Twitter's legal and policy affairs when he became CEO of Twitter, but Spiro no longer works at Twitter, people familiar with the matter said. I'm here.
This was in response to Musk's frustration with Spiro's call to 'stay with Twitter's deputy general counsel, James A. Baker,' in the process of layoffs and dismissals. This is said to be the reason.
As Twitter's legal department has run out of staff, Musk is trying to fill the void with lawyers scavenged from other companies, and SpaceX has given more than six lawyers access to Twitter's internal systems. I'm here. Among the SpaceX employees poached by Twitter are Chris Cardaci, vice president of legal affairs, and Tim Hughes, senior vice president and general counsel.
In addition, many of the employees who have been fired from Twitter have not yet received a formal letter of resignation, and Mr. Mask has made it clear that he will not pay retirement benefits to executives who have been dismissed for ``just cause''. The New York Times reported that Mr. Musk has instructed his employees to refrain from paying vendors because of the potential for such policies to lead to lawsuits.
CNBC, the news media that covered this report, asked Twitter again for comments, but said that no response had been received at the time of writing the article. CNBC also added that Twitter no longer has a communications department that handles interviews.
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