Elon Musk saves on renting Twitter offices

In an effort to make Twitter finally turn a profit, Elon Musk has been taking increasingly extreme cost-cutting measures. According to the New York Times, Twitter has stopped paying rent for its offices, including its headquarters in San Francisco. The Times, citing a recent lawsuit in New Hampshire, found that Twitter also refused to pay nearly $ 200,000 for private jet flights made in late October.

In November, in an effort to save money, Twitter laid off 50% of its staff, which is 7000 employees. At the time, Musk promised that the specialists who lost their jobs in the US would receive 3 months' salary as severance pay. The Times reports that Musk’s team is now weighing the possibility of not paying severance pay at all. However, this would be fraught with a significant number of lawsuits from disgruntled former employees. In the end, this is not new for the billionaire, as there have been such precedents.

Financial analysts also claim that the company is facing a hefty interest bill on its loans: Twitter is obliged to pay about $ 1 billion annually to banks because of the money Musk borrowed to finance the purchase of Twitter (and this despite the sale of his shares in Tesla).

Musk is also looking for ways to protect advertisers on the platform, which is why Twitter wants to provide advertising partners with personal data of users. Developers are also exploring the possibility of allowing users not to disclose personal information if they purchase a subscription to Twitter Blue. However, the tech giant Apple does not like this innovation.