Twitter HQ to auction off assets on January 17

Twitter, recently acquired by billionaire Elon Musk, will sell its surplus assets and mementoes from its San Francisco headquarters through an auction scheduled for January 17.

With starting bids ranging from $25 to $50, the company will be floating multiple times during the bidding process, which includes things like a large Twitter bird statue, a projector, iMac screens, espresso machines, chairs, and utensils. kitchen.

The move is seen as part of a controversial cost-cutting move by Elon Musk, who has laid off nearly half the company's staff, prompting employees to sue Musk. The employees alleged that the firings violated multiple labour rights.

Heritage Global Partners, a company that facilitates the bidding, its President Nick Dove shared in an interview that anyone who thinks the auction is part of preserving finances is a "moron," CNN reported.

"We don't determine which assets a company doesn't need. Just like a real estate broker doesn't determine which houses or buildings their client will need to sell, "Dove said, as quoted by CNN.