Musk reportedly wrote, "we've witnessed the power of X in shaping national conversations and outcomes... [but] our user growth is stagnant [and] revenue is unimpressive."

Banks are preparing to sell off debt used to help Elon Musk purchase X as the tech tycoon tells employees the company is “barely breaking even.” According to reporting from The Wall Street Journal, bankers at Morgan Stanley are planning to offload roughly $3bn in debt during a sale next week and are already contacting investors.

According to an internal email sent by Elon Musk to employees, X is 'barely breaking even,' citing stagnant user growth and underwhelming revenue

Elon Musk recently shared to X employees that the company is struggling to break even, and it is still its problem.

That answer may well be true. After all, sales of purely internal combustion vehicles have been in decline globally since 2018. Last year, EVs and hybrids together made up 20% of U.S. new car sales and that number is significantly higher globally, propelled especially by China, where EVs alone make up 50% of new car sales.

Morgan Stanley, Bank of America, Barclays, X and Elon Musk did not immediately respond to requests for additional comment. Banks typically sell such loans to investors soon after a deal is done ...

The Wall Street Journal reports that banks are planning to sell part of the $13 billion in debt they gave Musk to buy Twitter.

The British-headquartered lender unveiled a more stringent approach to hybrid working in a memo to staff earlier this week, which cut the minimum number of days staff can work from home from three down to two.

The bank is the latest large company to roll back its flexible working policies brought in during the Covid-19 pandemic.

Elon Musk warns X staff of stagnant user growth and revenue challenges while banks plan to sell $13 billion in X debt.

Elon Musk’s former employees are trying to use White House credentials to access General Services Administration tech, giving them the potential to remote into laptops, read emails, and more, sources say.