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Twitter is losing around $4 million a day, according to Elon Musk

As for Twitter’s reduction in staff, Elon Musk tweeted today, “Regarding Twitter’s reduction in force, unfortunately, there is no choice when the company is losing over $4M/day. Everyone exited was offered 3 months of severance, which is 50% more than legally required.”

Further clarifying, he added “Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged.”

Elon wants to restore the greatness of Twitter.

Five former workers, among them an engineer who also creates satirical cartoons, filed a lawsuit on Thursday accusing Twitter of failing to give sufficient notice of the layoffs.

In opposition to Musk’s proposal to charge $8 per month for blue ticks, celebrities have also spoken out. A fictitious figure who charges pals for doing chores has been compared to the billionaire. General Motors, Volkswagen, Audi, and Pfizer have all suspended their advertising.

Additionally, Musk criticized companies for pulling their advertising off the platform.
“Twitter has seen a massive drop in revenue as a result of activist groups pressuring advertisers, despite the fact that nothing has changed with content moderation and we did everything we could to appease the activists,” he tweeted.

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