Speaking at a conference hosted by Morgan Stanley in San Francisco on Tuesday, Musk said he had taken drastic measures to improve the company’s financial health, slashing what he said was about $3 billion of operational expenses. After the cuts, the company has a chance of having positive cash flow in its second quarter, he said.
He said the advertising decline was part “cyclic” and part “political” and blamed advertisers’ fears on portrayals of the company in the news media.Musk’s appearance came after Twitter dealt with a series of outages and glitches that have become more common under his ownership. On Monday, a bug left many users unable to click links, load images or access certain parts of the site.
Although Thorleifsson said on Twitter that he eventually did receive confirmation that he had been let go, he was still waiting for word as to whether he would be “paid what I’m owed per my contract.” Because his company was bought by Twitter, Thorleifsson had a higher compensation package than most employees and expected to be paid in full in the event that he was laid off.
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