Embattled Twitter CEO Elon Musk admitted on Thursday that bankruptcy for the social media platform "isn't out of the question" as the site reels from a series of high-profile resignations, and reports of growing discord among staff.
Musk's comment, first reported by Platformer's Zoë Schiffer, came as part of an employee all-hands meeting, during which he also reportedly encouraged employees to simply "be more hardcore" in the face of company troubles. Musk also allegedly reiterated his ban on remote work, telling attendees that "if you can physically make it to an office and you don't show up, resignation accepted."
According to an internal memo obtained by The New York Times, one employee at the company noted that "Elon has shown that he cares only about recouping the losses he's incurring as a result of failing to get out of his binding obligation to buy Twitter."
"I anticipate that all of you will be pressured by management into pushing out changes that will likely lead to major incidents," the same employee added.
Musk's admission of potential bankruptcy for Twitter comes just two weeks after he paid $44 billion to acquire the site, which has delayed — and in some cases reversed — a number of high-profile product rollouts in that time.