Musk agreed to pay $44 billion for Twitter in April, before the Federal Reserve started raising interest rates in a bid to fight inflation. This made the acquisition financing look too cheap in the eyes of credit investors, so the banks would have to take a financial hit totaling hundreds of millions of dollars to get it off their books.
Workers have also been worrying over how their compensation might change once Musk transforms the company from a publicly traded firm into a private one, said five employees who were not authorised to speak publicly.
ETSA comes at a time when the global tech startup ecosystem is surrounded by economic and geopolitical turmoil. The volatility in valuations of publicly listed companies, which began in the US late last year, is spilling over into the private markets.
Coursera is 'thinking long-term focus' on India's population of 850 million young people, CEO Jeff Maggioncalda told ET.
Texas sues Google for allegedly capturing biometric data of millions without consent
The two decisions, announced in a span of two days, have come in the run-up to the CCI setting up a dedicated Digital Markets and Data Unit (DMDU).
However, Twitter quickly sent out a clarification to employees, assuring that there are no plans for company-wide layoffs.