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As more senior executives quit, Musk warns of Twitter bankruptcy

In a latest update, Twitter Inc’s new owner Elon Musk on Thursday cautioned that there is a possibility of the social media platform going bankrupt, closing a chaotic day that included a warning from a U.S. privacy regulator and the resignation of the company’s trust and safety head.

Elon Musk at Twitter Headquarters

Bloomberg news reported that the billionaire-investor on his first mass call with employees said that he could not rule out the chance of bankruptcy, two weeks after taking over the company in a $44 billion deal that, according to credit experts, has left Twitter’s finances in an uncertain position.

In his first company-wide email, earlier in the day, Musk said that Twitter would not be able to “survive the upcoming economic downturn” if it did not succeed in boosting subscription revenue to compensate for the falling advertising income. This was informed by three people who have seen the message to Reuters.

Yoel Roth

Two people familiar with the matter told Reuters that Yoel Roth, who has headed Twitter’s response to counter hate speech, misinformation and spam on the service, resigned on Thursday.

In his Twitter bio on Thursday, Roth described himself as “Former Head of Trust &

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WEA Trust, Health Tradition Health Plan leaving Wisconsin’s insurance market by end of 2022

MADISON, Wis. — WEA Trust and the Health Tradition Health Plan are getting out of Wisconsin’s health insurance market by the end of the year.

trust-and-health-tradition-health-plan-to-exit-wisconsin-health-insurance-market”In a news release Wednesday, the groups said existing plan members will be covered until they choose new coverage or until December 31, whichever is earlier. WEA Trust will continue members’ long term care, life and vision coverage.

“The challenges related to healthcare consolidation, the costs associated with the global pandemic, and the drop in the stock market have made it difficult for local, not-for-profit organizations like ours who seek to provide families with high value personal care,” Vaughn Vance, the groups’ president and CEO, said in the release. “It became clear that we had to make the difficult decision to pivot as an organization before we sacrificed what has made WEA Trust unique for many years.”

Employees will be let go in a phased approach, with each receiving a severance package and at least 60 days of notice. According to a notice filed Wednesday with the Wisconsin Department of Workforce Development, 110 employees will be laid off on August 1

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