According to BBC news, Twitter is standing sued in the United Kingdom by the Crown Estate for allegedly forgetting to pay rent at its London headquarters. The Crown Estate operates the United Kingdom’s monarch, King Charles III’s property. The outlet further said that the alleged rental arrears bond to office space near Piccadilly Circus in central London.
They brought legal action and filed an affirmation in the High Court in London after getting Twitter about renting arrears over office space at Air Street. The Daily Telegraph noted that Twitter signed a 2.6-million-pounds-a-year lease for the third bottom, but the disagreement is over rent arrears on the first bottom of the same construction.
The Crown Estate is one of the UK’s biggest landowners, and even though the monarch owns the portfolio, it is not private property. The outlet stated that the Estate’s revenue goes to the Treasury for public spending, and the monarch accepts the sovereign Grant in exchange.
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Britain’s Crown Estate, an independent retail business that manages the effects portfolio of the monarchy, said on Monday it had started court proceedings against Twitter over likely unpaid rent on its London office.
Court lists revealed the case against Twitter filled at the High Court in London last week.
In a word, the Crown Estate, which holds some of the most expensive lands in central London, said the action linked to “rental arrears” on the social media outlet’s office space in the British capital.
The company laid off half its force after being brought over by Elon Musk last October. In London, the office was left vacant, and any evidence that Twitter had once inhabited the building was erased.
Last week, Elon Musk said Twitter has about 2,300 operational employees, a day after CNBC reported that Twitter’s full-time headcount has reduced to about 1,300 engaged, working employees, including fewer than 550 full-time engineers by title.
About 75 of the company’s 1,300 workers are on leave, including about 40 engineers, CNBC said, citing internal records. “The note is incorrect. About 2300 working employees at Twitter,” billionaire Musk tweeted in response to a tweet quoting CNBC. “There are still hundreds of workers working on trust & safety, along with several thousand contractors,” Musk added.
Musk took over Twitter in October and swiftly moved through several product and organizational changes. The company rolled out the Twitter-verified Blue check-mark as a paid service and laid off about 50 percent of staff.
Last week, it was declared that Twitter plans to lay off 50 employees in the social media site’s production company in the coming weeks. The layoffs, which reached six weeks after top boss Elon Musk reportedly told the team that there would not be different retrenchment, could decrease the company’s headcount to under 2,000, according to the report.
It comes after Elon Musk, the world’s second wealthiest man, paid $44bn (£36bn) to take possession of Twitter in October last year before cutting over half of the firm’s global workforce of around 7,000.
The Crown Estate brought the legal move after previously contacting Twitter regarding rental arrears over the office area at Air Street.
The Estate is one of the UK’s biggest landowners and an independent commercial business, yielding a profit for the Treasury for public spending. The ruler is then given 15% of the annual surplus of the Estate, understood as the Sovereign Grant, to support official duties.
It owns 10 million sq ft of effects in London’s West End and the seabed around England, Wales, and Northern Ireland, among other parcels.