Twitter is reportedly auctioning off items from its headquarters and has not paid rent at its San Francisco and global office for several weeks in a bid to slash costs.
Elon Musk, who acquired the company in late October following a chaotic legal battle, has been trying to renegotiate the terms of the lease agreement, The New York Times reported, citing two people familiar with the discussion.
The company has received complaints from real estate and management firms like Shorenstein, which owns Twitter’s San Francisco headquarters.
The firm declined to comment when reached by FOX Business. Twitter cut its communications department following Musk’s takeover.
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The company, meanwhile, is auctioning dozens of items of furniture, appliances, and memorabilia, including a large Twitter bird statue, a giant “@” sculpture, and other less interesting items like espresso machines and chairs.
The auction will be conducted online starting on Jan. 17, 2023 and closing the next day, according to Heritage Global Partners, which is organizing the sale.
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The news comes after Twitter on Monday dissolved its Trust and Safety Council, the advisory group of around 100 independent civil, human rights, and other organization that the company formed in 2016 to address hate speech, child exploitation, suicide, self-harm, and other problems on the platform.
The Associated Press contributed to this report.
Source: finance.yahoo.com