Elon Musk – Twitter has about 1,500 employees and is roughly breaking even
By The Headlines, April 12, 2023 | 08:34 AM
Twitter’s Chief Executive Elon Musk, said that the company is 'roughly break even,' as most of their advertisers have returned and the aggressive cost-cutting efforts have started bearing fruit after massive layoffs.
Elon Musk told BBC in an interview that was broadcast on Twitter Spaces that Twitter has only about 1,500 employees. This marks a sharp decline from the 8,000 employees the company had as of October last year.
Last week, Twitter experienced a glitch that prevented thousands of users from accessing links. This was just the sixth major outage at Twitter since the start of the year according to internet watchdog group NetBlocks.
Musk acknowledged some potential glitches but said they have not lasted very long.
It says that Twitter had a $3 million negative cash flow situation & had to take drastic measures, including large-scale layoffs.
There was a decline in ad spending on Twitter. It was supposedly due to the cyclical nature of ad spending, but since both the political & business executives returned it has begun to grow once again.
Elon Musk also mentioned he has no one in mind as his successor for the Twitter CEO job.
Musk has faced scrutiny from Tesla investors about his spending of time on the social media platforms and has previously said end of the year would be "good timing" to find a new Twitter CEO