by Akriti Sharma
(Reuters) – Twitter chief executive Elon Musk said on Wednesday the social network was “roughly break even” as most of its advertisers had returned and its aggressive cost-cutting efforts had begun to wear off. their fruits after massive layoffs.
In an interview with the BBC broadcast live on Twitter Spaces, Elon Musk said that Twitter currently has around 1,500 employees, which is a significant drop from the “some 8,000 staff members” the company had before its launch. he doesn’t take charge of her in October.
Twitter is in a negative cash flow situation of 3 billion dollars (2.75 billion euros), the chief executive said, adding that he had to take drastic measures, referring to the large-scale layoffs ladder.
“We could be cash flow positive this quarter if things go well,” Elon Musk said during the BBC interview, which drew more than 3 million listeners, adding that the company currently has a number of users higher than ever.
Twitter has been hit by a massive drop in advertising since the US billionaire’s acquisition due, Elon Musk said, to the cyclical nature of ad spending and “political” decisions. Most advertisers have returned, he told the BBC.
(Report Akriti Sharma; Nathan Vifflin, edited by Kate Entringer)
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