Twitter is auctioning off its headquarters items. It looks like that Twitter is on its way to auction everything in its San Francisco headquarters.
Yeah, you heard it right. Starting mid-Jan, people can place their bids on Twitter’s HQ items, which mainly include furniture, excessive office supplies & decorative items.
Twitter is auctioning off its headquarters items
This US holiday shopping season can extend one more month, especially if you are a Twitter fan.
Anyone who wants to buy a piece of Twitter’s headquarters can own multiple Twitter collectables by placing a bid via a simple auction.
Elon Musk is currently practising vast cost-reducing exercises, after his acquisition of Twitter which accounted for around $44 billion.
When he decided to lay off half of its employees, just shortly after his multi-billion-dollar purchase, it was obvious what his plans are.
It was reported earlier that Elon Musk has instructed Twitter’s teams to cut Twitter’s infrastructure by $1 Billion annually.
It was also feared at that time that this essential social media giant might go down during congested but significant events like the U.S. midterm elections. What leads to the application of this huge cost-cutting approach.
Twitter’s Financial Situation:
Just 10 days after his acquisition of Twitter, Elon Musk divulged that Twitter experienced a “massive” drop in earnings since his acquisition. He tweeted that the social media platform is losing almost 4 million dollars a day.
This was mainly linked to the fleeing of advertisers since he took over. Although Elon has blamed several reformists influencing advertisers, many are of the opinion that his “conspiracy theory” tweets were a contributing factor.
Another step taken by Twitter to counter losses is it’s latest auctioning of office items.
Twitter is currently trying to reduce the burden on the social media platform’s shoulders by giving off some items for the auction. This cleaning procedure includes the bid for the huge Twitter Bird. Other items include the giant sculpture planter as well.
The other items include some advanced gadgets like digital whiteboards and media centres. Smart TVs and kitchen items like espresso machines will also be up for auction.
The auction will start on January 17th and will end the next day. It will be held online and people can place bids on their desired items.
The opening bids will be between $25 to $50 and the auction will start on January 17 at 7 a.m. PT and will end at 10 a.m. PT on January 18.
Some other “cost-cutting” steps:
It also came to light a few days ago that Twitter is transforming its empty HQ offices into bedrooms for employees.
Senior editor of Forbes, Katharine Schwab, told CBS news:
“It’s pretty obvious that they’re sleeping at the office. There’s certainly an expectation given that beds, full queen-sized beds, mattresses, the whole thing, were brought into Twitter HQ over last weekend.”
According to San Francisco Chronicle, Twitter has not applied to use any part of the headquarter for residential purpose. Upon being asked by different media houses.
The San Francisco department of building inspection authenticated that after receiving a complaint, they are investigating this situation and they are planning to examine the company’s headquarters.
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Patrick Hannan, a representative of the department told the Washington Post,
“We need to make sure the building is being used as intended.”
“There are different building code requirements for residential buildings, including those being used for short-term stays. These codes make sure people are using spaces safely.”
Discomfort inside Twitter, Inc.:
The air inside Twitter feels cold these days. There is a sense of stiffness among employees and they feel uncertain and confused about their future at Twitter.
The hardline procedures imposed by Elon Musk are adding fuel to the already tense atmosphere and some of the “remaining” employees might part ways.
Keeping a clear view, in light of Musk’s statement about Twitter’s losses, it is highly unlikely that these steps will provide the desired relief for the organization as the said losses are much higher and require much greater initiatives.
Although this auction might not be considered such a big “concern,” it certainly gives a glimpse into what the future holds for Twitter and its employees, with many seeing further cutbacks peeking from behind.