Twitter Inc CEO Elon Musk said on Wednesday the social media company is "roughly breaking even," as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs.
Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp decline from "just under 8,000 staff members" it had before he took it over in October.
Twitter has been marked by chaos and uncertainty since the $44 billion acquisition by Musk, as its layoffs have also included many engineers responsible for fixing and preventing service outages, sources told Reuters.
Elon Musk, the CEO of Twitter Inc., claimed on Wednesday that the social media business is "roughly breaking even," noting that the majority of its advertisers have returned and that its aggressive cost-cutting measures have begun to pay off following significant layoffs.
In an interview with the BBC that was live-streamed on Twitter Spaces, Musk stated that Twitter currently has roughly 1,500 employees, a significant decrease from the "just under 8,000 staff members" it had prior to his acquisition of the company in October.
Since Musk purchased Twitter for $44 billion, it has been characterised by confusion and uncertainty as many of the engineers who are in charge of resolving and avoiding service disruptions have been laid off, according to insiders who spoke to Reuters.
"We could be cash-flow positive this quarter if things go well," he said in the interview that attracted more than 3 million listeners, adding the company currently has all-time high user numbers.
Since his acquisition, Twitter has experienced a sharp fall in advertising.
That was attributed, according to Musk, to the cyclical nature of advertising spending, some of which was "political." The majority of its advertisers, he claimed on Wednesday, have come back.
The entrepreneur, who also owns rocket manufacturer SpaceX and electronic car maker Tesla, said he has no one in mind to follow him as Twitter CEO.
Tesla shareholders have questioned Musk about how much time he spends managing the social media site, and he has stated that finding a new Twitter CEO would be "good timing" towards the end of this year.
(Source:www.dailymail.com)
Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp decline from "just under 8,000 staff members" it had before he took it over in October.
Twitter has been marked by chaos and uncertainty since the $44 billion acquisition by Musk, as its layoffs have also included many engineers responsible for fixing and preventing service outages, sources told Reuters.
Elon Musk, the CEO of Twitter Inc., claimed on Wednesday that the social media business is "roughly breaking even," noting that the majority of its advertisers have returned and that its aggressive cost-cutting measures have begun to pay off following significant layoffs.
In an interview with the BBC that was live-streamed on Twitter Spaces, Musk stated that Twitter currently has roughly 1,500 employees, a significant decrease from the "just under 8,000 staff members" it had prior to his acquisition of the company in October.
Since Musk purchased Twitter for $44 billion, it has been characterised by confusion and uncertainty as many of the engineers who are in charge of resolving and avoiding service disruptions have been laid off, according to insiders who spoke to Reuters.
"We could be cash-flow positive this quarter if things go well," he said in the interview that attracted more than 3 million listeners, adding the company currently has all-time high user numbers.
Since his acquisition, Twitter has experienced a sharp fall in advertising.
That was attributed, according to Musk, to the cyclical nature of advertising spending, some of which was "political." The majority of its advertisers, he claimed on Wednesday, have come back.
The entrepreneur, who also owns rocket manufacturer SpaceX and electronic car maker Tesla, said he has no one in mind to follow him as Twitter CEO.
Tesla shareholders have questioned Musk about how much time he spends managing the social media site, and he has stated that finding a new Twitter CEO would be "good timing" towards the end of this year.
(Source:www.dailymail.com)
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