Twitter CEO Elon Musk stated Wednesday that the social media firm is “roughly breaking even,” as most of its advertisers have returned and its aggressive cost-cutting efforts have began bearing fruit after huge layoffs.
In an interview with BBC broadcast stay on Twitter Spaces, Musk stated Twitter has about 1,500 workers now, a pointy decline from “just under 8,000 staff members” earlier than he took it over in October.
Twitter has been marked by chaos and uncertainty since Musk’s $44 billion acquisition, as its layoffs have additionally included many engineers answerable for fixing and stopping service outages, sources informed Reuters.
Last week, Twitter suffered a bug that prevented 1000’s of customers from accessing hyperlinks, its sixth main outage for the reason that starting of the yr, based on web watchdog group NetBlocks.
Musk acknowledged some glitches, together with latest outages, however stated they’d not lasted lengthy.
He says Twitter was in a $3 billion damaging money movement scenario and needed to take drastic actions, referring to its large-scale layoffs.
“We could be cash-flow positive this quarter if things go well,” he stated within the interview that attracted over 3 million listeners, including the corporate presently has all-time excessive person numbers.
Twitter has been hit by a large decline in promoting since its acquisition.
Musk had stated that was due to the cyclical nature of advert spending, a few of which had been “political.” However, he stated on Wednesday most of its advertisers have returned.
The billionaire, who additionally runs digital automobile maker Tesla and rocket firm SpaceX, stated he has nobody in thoughts to succeed him as Twitter’s chief government.
Musk has confronted scrutiny from Tesla buyers about how a lot time he spends working the social media platform and has beforehand stated the tip of this yr could be “good timing” to discover a new Twitter CEO.
Source: www.dailysabah.com
