Elon Musk has been having a tough time managing Twitter. After a long and messy legal battle, the billionaire bought the social media giant for $44 billion last year. However, things have not been easy for him. He quickly went on a firing spree and stopped paying rent to cut costs.
Now it’s been reported that the 51-year-old tech mogul is trimming some of the company’s office spaces in New York City. It will be subleasing 200,000 square feet of space in the Manhattan region. So let’s find out the details of this entire new development of Musk’s Twitter.
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Elon Musk Plans To Further Cut Twitter’s Costs
Ever since the acquisition, Elon Musk has been making sweeping changes in Twitter. From firing nearly half of the company’s workforce to introducing policies that immediately backfired.
According to Business Insider, Twitter recently listed their 200,000 square feet of office space for sublease. It is located at 245 and 249 W. 17th St in Manhattan, New York.
The company has been shrinking minute by minute ever since Musk took over. He recently fired hundreds of his employees, including some very loyal workers. This came despite him saying that there won’t be further layoffs in the company. He has also reportedly stopped free meals and other benefits for staff apart from not paying company vendors.
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Twitter Offices Have Been Shrinking
In January, the British corporation called The Crown Estate sued Musk for non-payment of Twitter’s London office. This estate manages the properties of King Charles III and the monarchy.
The non-payment is for the company’s offices on Air Street in London, which is just around the posh Piccadilly Circus. In order to cut costs, Musk has stopped paying rent for offices.
Last year in December, a landlord sued the company over a non-payment issue for its San Francisco office. A payment of $136,260 was due for the 650 California Street office which the company failed to provide. Twitter’s Singapore office has also been shut down over non-payment of rent and employees have been ordered to work remotely until further notice.
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