Twitter also quit paying rent on its San Francisco headquarters in December, according to court filings.
The Crown Estate — which manages a range of assets from shops and offices to the seabed around England is ultimately owned by the British monarch. It filed a suit against Twitter over its London premises in the West End, according to court filings. No further detail was available, and a spokesperson for the Crown Estate declined to comment beyond confirming the suit.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.
Since taking over Twitter, Elon Musk has been slashing costs. He’s fired half the staff, held back rent on the company’s other offices around the world and refused to pay some outstanding bills, such as a jet charter. Those measures come as the billionaire is facing his first payment on the US$12.5 billion in debt he took on to acquire Twitter.
Twitter rents more than 460,000 square feet of space on eight floors of the San Francisco building, according to the complaint. Sri Nine Market Square held a letter of credit for US$3.6 million as security, which Twitter was required to increase to US$10 million if there were a transfer in control, which occurred when Musk bought the company in October for US$44 billion.Article contentSri Nine said it drew upon the existing line of credit to cover the December rent of $3.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
London, Ont. mother highlights lack of mental health support for teen daughter - London | Globalnews.caAccording to the Ontario Phycological Association, requests for mental health support for children and youth services increased by 104 per cent between 2021 and 2022.
Read more »
Thousands already donated for upcoming London, Ont. homelessness plan - London | Globalnews.caThe plan was announced last week by Mayor Josh Morgan during his first-ever State of the City Address and aims to provide a 'permanent and sustainable system' for homelessness.
Read more »
Calgary's Kayla Skrlik rises fast to capture Alberta Scotties curling crownKayla Skrlik captured her first provincial team crown in storybook fashion Sunday.
Read more »
UFC 283: Jamahal Hill beats Glover Teixeira to claim light heavyweight crownJamahal Hill put on a superb display of striking en route to a unanimous decision win over Glover Teixeira at UFC 283.
Read more »
Calgary's Kayla Skrlik rises fast to capture Alberta Scotties curling crownKayla Skrlik captured her first provincial team crown in storybook fashion Sunday.
Read more »
UFC 283: Jamahal Hill beats Glover Teixeira to claim light heavyweight crownJamahal Hill put on a superb display of striking en route to a unanimous decision win over Glover Teixeira at UFC 283.
Read more »