The risk measurement agency Moody’s has announced that it is cutting Twitter’s rating

In stormy weeks that Twitter lives after purchase Elon MuskThis Saturday risk measurement agency Moody’s announced Cancellation of ratings About the social network.

The event is known to be conditioned Lack of information About the company, which makes it difficult to obtain details About him Financial situation.

Moody’s has decided to withdraw the ratings because it believes it has insufficient or inadequate information to maintain the ratings. It is stated in the letter that the company published on its website.

On October 31, the agency had already downgraded the credit rating by two notches to B1, expecting Musk’s announcements to expect a significant increase in leverage and a weakening of other metrics.

“Twitter’s management risk is very negative, reflecting Moody’s expectations of an aggressive financial policy and Elon Musk’s concentrated ownership,” Moody’s said after acquiring the social network.

Right now, there are more doubts about Twitter than there are certainties about it. There was a line to enter the Little Blue Bird’s office for the mask drastic changes Ра Dismissal from officeincrease debt i Advertising revenue is falling sharplySo no one knows what the company’s accounts are like.

On the other hand, we should remember that before the change in the management team, the company was already in the red, and now losses They only accelerated Four million dollars a day.

To deal with this situation and reverse the downward trend that Twitter has, Musk decided release A large number of employees in order to reduce costs. Although they didn’t specify how many people lost their jobs recently, it’s likely to be close 3700 -represents more than half of its global workforce-. “There is no other choice when the company loses about four million per day,” the businessman wrote in his profile.

Controversy also arose over how the decision was delivered, as employees testified that they received the news by email or even learned afterward that they could not log in.

Also, those who expressed any kind of questions on social networks regarding the guidelines received in recent weeks, the contract with the company was canceled.

in turnEmployees selected to continue Employees also received an email from Musk with an ultimatum in which he urged them A commitment to hard work Or, on the contrary, leave the company.

The event caused, this week, a A wave of resignations Contrary to the company’s request to fill out the form in which they promised “Work long hours at high intensity”.

However, Musk was very careful with this performance as he made sure to maintain it programmers and EngineersThe key to making a social network work and implementing all the ideas and changes it learns.

Again, via e-mail, the businessman called all the staff who developed the software codes to come to the tenth floor of the company’s office in San Francisco this Friday and Saturday to talk about their work.

“There will be short technical interviews that will allow me to better understand Twitter’s technology functionality,” Musk explained in an email.

He also asked them to reply to the email a A summary of what your software code “accomplished”. In the last six months “together Up to 10 screenshots of the most prominent lines of code“.

(according to EFE and Reuters)

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