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Twitter Breaks Even, Regains Advertisers, and Cuts Costs

Elon Musk, Twitter Inc CEO, stated that the social media giant is now "roughly breaking even" due to the return of most advertisers and the positive results from aggressive cost-cutting measures following massive layoffs.

Elon Musk
Elon Musk

Employee Count Reduced to 1,500 After Musk's Takeover

In a live interview on Twitter Spaces with BBC, Musk revealed that the current employee count is around 1,500, a significant decrease from the nearly 8,000 staff members before he took over the company in October.

Layoffs and Outages Plague Twitter Post $44 Billion Acquisition

Since Musk's $44 billion acquisition, Twitter has been marked by chaos and uncertainty. Layoffs included many engineers responsible for fixing and preventing service outages, leading to multiple outages, such as the recent bug that prevented users from accessing links.

Glitches Acknowledged, Cash Flow Improving

Musk admitted to recent outages but noted they were short-lived. He disclosed that Twitter faced a $3 billion negative cash flow situation, necessitating large-scale layoffs. However, Musk remained optimistic, stating, "We could be cash-flow positive this quarter if things go well."

All-Time High User Numbers, Advertisers Return

The CEO also announced that Twitter currently boasts all-time high user numbers and that most advertisers have returned after a massive decline in advertising since his Acquisition. He attributed this decline to cyclical ad spending and political factors.

No Successor in Mind for Musk's Twitter CEO Position

Musk, who also runs Tesla and SpaceX, shared that he has no one in mind to replace him as Twitter's CEO. Amid scrutiny from Tesla investors regarding his time running the social media platform, Musk previously suggested the end of the year would be "good timing" for a new Twitter CEO.