The world’s second richest man said that “drastic action” was needed when he came on board, because the company was facing “a $3 billion negative cash flow situation”
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.
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