Musk warns bankruptcy is a possibility for Twitter

Elon Musk, who just acquired Twitter in a $44 billion deal, told the social media platform's employees on Thursday that bankruptcy "isn't out of the question" as advertisers pull back and the company bleeds cash. Musk's comment, first reported by Platformer's Zoë Schiffer, came during an employee meeting days after Musk ordered layoffs for half of Twitter's 7,500 employees. Musk, Tesla's CEO, told workers he had recently sold Tesla stock — securities filings put the shares' value at nearly $4 billion — to "save" Twitter. "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," an employee said in an internal memo obtained by The New York Times.