Twitter is “roughly breaking even”, Twitter CEO Elon Musk says, as most of its advertisers have returned and its aggressive cost-cutting efforts have began bearing fruit after large lay-offs.
Musk, in an interview with BBC broadcast stay on Twitter Spaces, mentioned Twitter has about 1500 workers now, a pointy decline from “just under 8000 staff members” it had earlier than he took it over in October.
Twitter has been marked by chaos and uncertainty for the reason that $US44 billion ($A66 billion) acquisition by Musk, as its layoffs have additionally included many engineers accountable for fixing and stopping service outages, sources advised Reuters.
Last week, Twitter suffered a bug that prevented hundreds of customers accessing hyperlinks, its sixth main outage for the reason that starting of the 12 months, in keeping with web watchdog group NetBlocks.
Musk acknowledged some glitches, together with latest outages, however mentioned they haven’t lasted very lengthy.
He says Twitter was in a $US3 billion damaging cash-flow scenario and needed to take drastic actions, referring to its large-scale lay-offs.
“We could be cash-flow positive this quarter if things go well,” he mentioned within the interview on Wednesday that attracted greater than three million listeners, including the corporate had record-high consumer numbers.
Twitter has been hit by an enormous decline in promoting since his acquisition.
Musk had mentioned that was as a result of cyclical nature of advert spending and a few of which was “political”.
He mentioned on Wednesday most of its advertisers had returned.
The billionaire, who additionally runs digital automotive maker Tesla and rocket firm SpaceX, mentioned he has nobody in thoughts to succeed him as Twitter chief government.
Musk has confronted scrutiny from Tesla traders in regards to the period of time he spends operating the social media platform and had beforehand mentioned the tip of this 12 months could be “good timing” to discover a new Twitter CEO.
Source: www.perthnow.com.au
