Yahoo Finance tech editor Dan Howley details Elon Musk's latest address to Twitter employees, stating the possibility of bankruptcy amid corporate restructuring and executive shuffling.

Video Transcript

SEANA SMITH: Elon Musk reportedly holding an all-hands question and answer session with Twitter employees. Dan Howley is back with the latest on what we're hearing from Elon. And Dan, what can you tell us?

DAN HOWLEY: Yes, so far, he's reportedly said that bankruptcy for the company isn't out of the question, as far as how much cash Twitter has left. This is a huge change from what we've seen Musk trying to put forward as a leader at Twitter. He's also said that people need to be in the office. He's talked about this before. But if they're not, then they might as well just resign.

So we're seeing Musk kind of try to corral employees and almost run this like he does Tesla, where he kind of rules with an iron fist. He has these people come in. He has them work more than 40 hours a week over time, things along those lines. And it seems like that he's trying to do all of that and more at Twitter, which has a culture that is nothing like that.

This is a company that-- I mentioned this before-- had a very laissez faire attitude towards where people work. As I said, Jack Dorsey originally was talking about going to Africa and working remotely from there. So this idea that these people might as well resign if they don't show up, coupled with the fact that he's saying, look, we might not have enough money to keep operating.

I mean, you've got to imagine that employees at Twitter, the morale there has to be so low at this point. I mean, he brought in a sink when he said let that sink in. It feels like he's just using that to weigh the company down and sink it.

SEANA SMITH: Yeah, certainly, you would think morale is very, very low there. But if you take a look at the stock performance when it was a publicly traded company, clearly, there were changes that needed to be made. So it'll be interesting to see the position that maybe Twitter is in a year from now if it is able to avoid bankruptcy going forward, compared to where we are today. Dan Howley, thanks so much.