Elon Musk Twitter rent payments are not being paid as the company aims to lower its expenses and negotiate a better deal with the landowners of the properties they use.
Under Twitter’s new CEO Elon Musk, the company has not been paying rent payments at its San Francisco headquarters and plans to sell off its surplus kitchen appliances and office equipment. The social networking business intends to improve its financial status. According to three people close to the firm, Twitter hasn’t paid rent on its San Francisco headquarters or any of its global locations in weeks. According to the report by New York Times, Musk and his advisers are attempting to renegotiate lease rates due to their reduced personnel following mass layoffs. Musk is lowering costs after paying $44 billion for Twitter in October.
Elon Musk Twitter rent payments are delayed
Elon Musk’s revenue dropped dramatically in November. The corporation is also refusing to pay roughly $200,000 in expenses for private charter flights that occurred the week Musk took over. According to the Times, Musk’s team is also exploring what would happen if the firm did not pay severance to the hundreds of individuals laid off by Twitter since Musk took over. Prior to Musk’s arrival, the facility employed 7,500 people.
Musk had intended to give at least two months’ pay and another month’s severance pay to US-based employees in accordance with federal and state labor rules, but his team is reportedly debating whether to pay a portion of those months. Many former workers are still waiting for paperwork that formalizes their exit from Twitter. Elon Musk will shortly arrange a year-end auction to clear off some of the excess inventory at the San Francisco headquarters.
While Elon Musk Twitter rent issues are still going on, why not check out Elon Musk turns Twitter HQ into a hotel, or Twitter relaunches Twitter Blue: It will cost extra $3 for Apple users.
