Musk was quoted as saying in the interview that the social media platform now has only 1,500 employees, down from under 8,000 who were employed at the time of his acquisition. The reduction equates to roughly 80% of the company’s staff. It’s “not fun at all” and can sometimes be “painful,” the billionaire CEO told the British broadcaster at Twitter’s head office in San Francisco.
He has since radically overhauled Twitter: firing top executives, slashing jobs and enacting new policies on how user accounts are verified or labeled. Since then, Twitter is now “roughly” breaking even and advertisers are returning to the platform, he told the BBC. Musk also pledged to revise the label applied to the British broadcaster, from “government-funded” to “publicly-funded” after the BBC objected. The designation was added over the weekend.
Now, I'm no billionaire but it seems to me that dropping $44B on a company with a negative cash flow of $3B isn't such a good idea.🤔
“Rookie numbers!”
How much of that $3B was to service the debt for his overpriced LBO?
mouse_math Twitter has never made money. It was always in the red. What Musk did and continues to do is slowly destroying it from the inside.
BlockElon
Who's richer than him?
He could have injected that $3billion and let it run, he would likely not have lost half of the company’s value.
What a great achievement
why is he doing media rounds?
Astounding that this thing still runs! paraga should be sued for shareholder wealth destruction
Man boards Titanic, proceeds to punch extra holes in its hull.
Business is business.
He smashed the BBC colonial funded dinosaur 🦖 👏🎬
Lol he spent $44 billion on a company that was already $3 billion in the hole. What a genius.
It means that he increased the company productivity 400% 😉.
Aye sure it was
Cnn is pathetic
Let's discuss about the journalist who was owned 😂
old news
It's now facing a $30 billion negative cash flow situation in Germany thanks to the genius' drastic actions. Oops
Was it stipulated when he agreed to be interviewed that you would refer to him as the 'world's second richest man?'
So his solution was to make Twitter worse.
Yeah, you just might want to do some journalism and check that number out on your own instead of just act as Elon's stenographer. I'd bet it's a lie.
Did elon graduate from Trump University? LOL
What's that you say, $3B annual loss? Ok, guess I should buy that for $44B. I'm a financial genius!
machines cant tell u new things its an telepromter who is feeded with multiple pre designed things .....but humans can bring new intellectual things on board
He's been known to Trump, er, I mean lie.
His not the second world richest man ffs 🙄 u heard of the elites. rothchilds and rockerfellers. Builderbergs Blackrock. Vanguard.. why not ever mention them ? oh yeah because ur paid by em 🙄
Your point? Twitters finances were bloated with 1000s of unproductive workers but because Musk is really rich he should have kept them employed rather seek profitability for the business he acquired? Makes sense for the gender studies grads at CNN I guess.
He overpaid, and now he doesn't want people looking at that.
He cut a bunch of do nothing staff. There to silence people. Thank you ELon.
He LIE like his fav criminal bud Trump. No big dea!, really. 🤡
Close this shit
Instead of going through all the change for unrealistic profit making, he should admit it was a bad deal to buy Twitter at that hefty price. Sell it or take it back public and focus on Tesla instead.
And here we are, tweeting away just like we always have.
Yep and the people left working for him are probably right wing fanatics. I was booted for a week for calling someone an idiot. Meanwhile I get called a pedophile and communist, reporting them did nothing. But idiot is too far?
Should have asked a question or two before buying it.
And let me guess, he was the only one who could possibly save the company? What is it with these billionaires and savior complexes?
Twitter and TIK Toc will end soon and other social media outlets will follow. We lived without them before and we can adapt in the future.
Damn it is HARD when there are ZERO government subsidies in your business model.
I think this man always had the intention of destroying Twitter...and his investors are just as interested in him destroying it as well...
Not surprised
In the meantime, the the company's value declined to 50% with Elon Musk! 🥳
ElonMusk is not the solution to any company’s cashflow problems. More likely, as in the Twitter case, he’s the problem.
Desperate times requires desperate measures.
Indeed
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk makes big investment in generative-AI project at TwitterElon Musk is moving forward with a new generative AI project at Twitter after purchasing thousands of GPUs How unpredictable... time to delete account. Elon Musk is the consummate liar. Seems he only signed on to that missive about the dangers of AI to pave the way for his own product(s) using this technology. I wouldn't be surprised if this unethical, megalomaniacal robber baron tries to corner the market on it. What a crook. I've got the brand name. It's 'unb[IA]sed'. elonmusk DM me so we can negotiate it
Source: BusinessInsider - 🏆 729. / 51 Read more »