To save money, Musk suspended payment of Twitter headquarters rent

Beijing, Dec. 14 (BTX)-after being acquired by Elon Musk (Elon Musk), Twitter began to cut costs so much that it didn't even pay rent for its headquarters, according to people familiar with the matter.

Twitter has not paid rent for its San Francisco headquarters and other offices around the world for weeks because Mr Musk's team has been trying to renegotiate the company's lease terms, according to people familiar with the matter. As a result, Twitter received complaints from real estate companies such as Shorenstein. Shorenstein owns the Twitter San Francisco building.

Moreover, a copy of the lawsuit filed with the New Hampshire District Court shows that Twitter also refused to pay the $197725 in private charter fees incurred during the week when Musk took over the company. Twitter management also discussed the consequences of refusing to pay severance pay to thousands of employees who were laid off after the acquisition, according to two people familiar with the matter.

Mr Musk has not commented. He has said Twitter suffered a "significant drop in revenue" in the days after he bought it for $44 billion. Without providing any data or evidence, he claimed on Twitter that the drop in revenue was due to pressure from activist groups on advertisers.