Twitter layoffs to keep company afloat — Musk

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BILLIONAIRE businessman and Twitter CEO Elon Musk defended his decision to reduce the company’s workforce, saying the act was done to save it from getting bankrupt.

In a rare interview with BBC last April 12 at the Twitter offices in San Francisco, Musk said laying off more than 6,000 Twitter employees, or about 80 percent of its total workforce is “not fun at all” and “painlful.” But rather than let the company go bankrupt and leave everyone jobless, Musk had to do it.

He further explained that when he got on board Twitter on October of 2022, the company had cash flow issues of about $3 billion and will only last 120 days if they don’t cut costs immediately.

As of the interview, Musk confirmed that Twitter has 1,500 employees.

Musk took over Twitter after paying $44 billion for the company.

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