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By Akriti Sharma
April 12 (Reuters) – Twitter Inc CEO Elon Musk stated on Wednesday 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.
Musk, in an interview with BBC broadcast dwell on Twitter Areas, stated Twitter has about 1,500 workers now, a pointy decline from “slightly below 8,000 workers members” it had earlier than he took it over in October.
Twitter has been marked by chaos and uncertainty for the reason that $44 billion acquisition by Musk, as its layoffs have additionally included many engineers answerable for fixing and stopping service outages, sources advised Reuters.
Final week, Twitter suffered a bug that prevented hundreds of customers from accessing hyperlinks, its sixth main outage for the reason that starting of the yr, in line with web watchdog group NetBlocks.
Musk acknowledged some glitches, together with current outages, however stated they haven’t lasted very lengthy.
He says Twitter was in a $3 billion detrimental money move scenario and needed to take drastic actions, referring to its large-scale layoffs.
“We could possibly be cash-flow optimistic this quarter if issues go effectively,” he stated within the interview that attracted greater than 3 million listeners, including the corporate at the moment has all-time excessive consumer numbers.
Twitter has been hit by an enormous decline in promoting since his acquisition.
Musk had stated that was because of the cyclical nature of advert spending and a few of which was “political.” He stated on Wednesday most of its advertisers have returned.
The billionaire, who additionally runs digital automotive maker Tesla and rocket firm SpaceX, stated he has nobody in thoughts to succeed him as Twitter chief govt.
Musk has confronted scrutiny from Tesla traders in regards to the period of time he spends working the social media platform and had beforehand stated the top of this yr can be “good timing” to discover a new Twitter CEO. (Reporting by Akriti Sharma; Enhancing by Jacqueline Wong and Christian Schmollinger)
