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Twitter has stopped paying office rent, may not pay severance packages: Report
Elon Musk: Twitter has not paid rent for its San Francisco headquarters and global offices for weeks, the report said.
Twitter’s boss Elon Musk has reportedly instructed employees to not pay vendors which includes rent for its offices in anticipation of potential lawsuits against the social media giant, a report said. Twitter, which has laid off nearly half of its workforce, has not paid rent for its San Francisco headquarters and global offices for weeks, The New York Times reported.
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The company is attempting to renegotiate the terms of its lease agreements, the report added saying that Twitter has also discussed the consequences of not paying severance fees to the staff that were fired during its recent mass layoffs.
The report also said that Twitter has refused to pay a $197,725 bill for private charter flights taken in late October when Elon Musk took over the company.
This comes as the company is making efforts to save money. Earlier, it was reported that Twitter is also auctioning some office items from its San Francisco headquarters, including a statue of the company’s famous blue bird, office furniture, espresso machines and an electric bike-charging station.
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Since Elon Musk’s high-profile takeover, thousands of Twitter’s staff have either been fired or have resigned, slashing its workforce by nearly half from over 7,000 to nearly 2,000. While the company initially decided it would give at least two months of pay and one month of severance pay to laid off employees, it is now deliberating not paying severance packages.
