The risk measurement agency Moody's announced that it stops rating Twitter

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The measure communicated with the company is due to the lack of data and precisions on the social network in the midst of a few unruly weeks after the arrival of Elon Musk

The risk measurement agency Moody’s announced that it stops rating Twitter

The risk measurement agency Moody's announced that it is no longer rating Twitter (REUTERS)

In the midst of the stormy weeks that Twitter has lived since the acquisition of Elon Musk , this Saturday the risk measurement agency Moody's announced the withdrawal of ratings on the social network.

The measure, as reported, is due to the lack of information on the company, which makes it difficult to obtain precision about its financial situation.

“Moody's has decided to withdraw the ratings because it believes it has insufficient or inadequate information to support maintaining the ratings,” read the statement posted by the company on its website.

On October 31, the agency had already reduced the credit rating two notches, placing it at level B1, and had anticipated that Musk's announcements expected a substantial increase in leverage and the weakening of other metrics

“Twitter's governance risk is very negative, reflecting Moody's expectations of aggressive financial policies and concentrated ownership by Elon Musk,” Moody's announced after the purchase of the social network.

Moody’s risk measurement agency announced that it is no longer rating Twitter

At the end of October Moody's had already reduced the credit rating two notches, placing it at level B1 (REUTERS)

Currently, there are more doubts about Twitter than there are certainties about it . With the landing of Musk in the offices of the little blue bird, there have been a series of abrupt changes such as layoffs, an increase in debt and plunging advertising revenue, so no one knows how the company's accounts are.

It should be remembered, in turn, that the company was already in the red prior to the change in the management team, and now the losses have only accelerated to 4 million dollars a day.

To address this situation and reverse the trend to the decline that has Twitter Musk decided to fire to a large part of its employees, in order to cut costs. Although they did not specify how many people lost their jobs in recent times, it is estimated that they were close to 3,700 -representing more than half of their global workforce-. “There is no other choice when the company is losing about four million a day,” the businessman wrote in his profile.

Moody’s risk measurement agency announced that it is no longer rating Twitter

Elon Musk justified the firings on Twitter

The controversy It was also given by the way in which the decision was communicated since, according to what the employees showed, they received the news by email or even found out after not being able to enter their systems.

< p class="paragraph">Also, those who had expressed some kind of questioning of the social network about the guidelines adopted in recent weeks, saw their contract with the company terminated.

For their part , the employees selected to continue in the workforce also received an email from Musk with an ultimatum in which he urged them to commit to work hard or, on the contrary, to leave the company .

The move sparked a wave of resignations this week in opposition to the company's request to fill out a form pledging to “working long hours at high intensity”.

However, Musk has been very careful with this move as he made sure to retain the programmers and engineers, key to the operation of the social network and to carry out all the ideas and changes that it studies.

Moody’s risk measurement agency announced that it is no longer rating Twitter

Elon Musk together with programmers and engineers, whom he summoned to the San Francisco offices ( Twitter: @elonmusk)

Again, through an email, the businessman summoned this Friday and Saturday all the personnel who developed software codes to appear on the tenth floor of the office of the company in San Francisco to discuss its performance.

“There will be brief technical interviews that will give me a better understanding of Twitter's technology operation,” Musk explained in the email.< /p>

He also asked them to reply to the email with a summary of what their software code has “achieved” in the last six months, “along with up to 10 screenshots of the most outstanding lines of code”.

(With information from EFE and Reuters)

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