Elon Musk has launched a very thorough and detailed spending review of his new property, or Twitter, and several are losing or will lose. According to several sources informed about the facts who spoke with the New York TimesAbove all, the Tesla founder ordered a temporary payment freeze for invoices from external suppliers and reimbursements. According to the US newspaper, millions of dollars appear to be at stake, including hundreds of thousands of dollars for travel expenses for certain employees. Examples are:
- employee travel expenses
- software services
- Rents and real estate expenses
- Handling Fees
- office canteens
Musk requested a line-by-line control of the books, because he “wants to make sure reimbursements are for real people and real expenses.” It’s reasonable to assume, but it’s worth pointing out that many of the bills still to be paid predate his takeover of the social platform. Apparently Musk has brought in allies from Tesla, the Boring Company and his personal family office to help with the new management.
Musk reportedly asked the rest of the staff about it, too Renegotiate contracts with external suppliers, would have ordered the deactivation of corporate credit cards, a freeze on free lunches for office workers, and charitable spending. Musk apparently wants to renegotiate existing deals with giants like Condé Nast, Fox Sport News Network, Amazon and Oracle, and deals with the NFL and NBA could also be involved.
At the same time it turns out that Twitter office in Belgium closes: The six employees who worked there are among those who rejected Musk’s ultimatum. Small as it was, the office was crucial from a policy perspective: it guaranteed the US platform a direct line to the European Commission, which sources say is now voicing its concerns about Musk-era developments