Elon Musk has confirmed that he has laid off over 6,000 employees at Twitter since taking over the social media platform in a rare interview with the BBC on Tuesday. Musk stated that Twitter now has only 1,500 employees, down from under 8,000 when he acquired the company, representing an 80% reduction in staff.
Musk revealed that “drastic action” was necessary when he took over the company, which was facing “a $3 billion negative cash flow situation,” leaving it with just “four months to live.” Musk added that the decision was not an uncaring one, but rather necessary to prevent the whole ship from sinking, which would have left no one with a job.
Since taking over Twitter, Musk has radically overhauled the platform by firing top executives, enacting new policies on how user accounts are verified or labeled, and slashing jobs. According to Musk, Twitter is now “roughly” breaking even, and advertisers are returning to the platform.
Musk purchased Twitter for $44 billion in October 2022 after initially offering to take over the company in April 2022. However, he attempted to back out of the deal, citing concerns over the number of bot accounts on the platform.
During the interview, Musk also pledged to revise the label applied to the British broadcaster BBC from “government-funded” to “publicly-funded” after the BBC objected. The designation was added over the weekend, with the BBC protesting the move, stating that it “is, and always has been, independent.”
Musk also commented on the scrutiny of TikTok in the US, saying that while he is not a user of the Chinese-owned app, he is generally against the banning of things. He added that banning TikTok would help Twitter, but he would still be against it.
In typical Musk fashion, he also cracked jokes during the interview, saying that he is “no longer the CEO of Twitter” and had been replaced by his pet dog, a Shiba Inu named Floki.
While Musk’s statements about the layoffs and the overhaul of Twitter are certainly significant, his jokes about being replaced by his pet dog were taken less seriously. Musk’s sense of humor is well-known, and he has frequently used his Twitter account to post memes and jokes.
Despite the humorous moment, the interview highlighted the significant changes that Musk has made at Twitter in a relatively short amount of time. The reduction of the company’s staff by 80% is a drastic move, but Musk argued that it was necessary to save the platform from a dire financial situation.
Musk’s willingness to make such bold moves has won him both admirers and critics, and his ownership of Twitter is likely to remain a subject of debate. However, his pledge to revise the label applied to the BBC shows that he is willing to listen to feedback and make changes when necessary.
As for Musk’s comment about TikTok, it remains to be seen whether the app will be banned in the US or not. However, his observation that banning TikTok would help Twitter underscores the fierce competition that exists among social media platforms.
Musk’s interview with the BBC is a rare glimpse into his thinking about Twitter and the social media landscape more broadly. While he may have laid off thousands of people, Musk’s commitment to making Twitter financially viable again may ultimately benefit the platform in the long run.