Twitter said it may be difficult to attract and retain key people, and mentioned “the possibility that our current employees could be distracted, and their productivity decline as a result, due to uncertainty regarding the merger,” the company said in a regulatory filing Monday.
The company added that it would be difficult to make changes to its business until the deal is completed. Twitter has paused hiring and app updates while the acquisition is pending. It could still fall apart, which would also be bad for business, and likely affect the company’s stock, Twitter said. “Any disruptions to our business resulting from the announcement and pendency of the merger, including adverse changes in our relationships with employees, advertisers and other business partners, may continue or intensify in the event the merger is not consummated or is significantly delayed,” Twitter said in the filing.
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Musk told banks he will rein in Twitter pay, make money from tweets — sourcesElon Musk told banks that agreed to help fund his $44bn (R699bn) acquisition of Twitter that he could crack down on executive and board pay at the social media company in a push to slash costs, and would develop new ways to monetize tweets, three people familiar with the matter said. We are in for it 😭
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