More than 6,000 people at Twitter were laid off since the CEO of the company, Elon Musk took over the social media platform.
The business magnate on Tuesday made this development known to BBC in an interview on Tuesday after carrying out the exercise.
According to Musk, the social media platform now has only 1,500 employees, down from under 8,000 who were employed at the time of his acquisition as the reduction to becomes about 80% of the company’s staff.
On his reasons for the sack, the investor revealed to British broadcaster at Twitter’s head office in San Francisco that It’s “not fun at all” and can sometimes be “painful.”
Giving another reason for his act, the the founder, CEO and chief engineer of SpaceX from his estimation said Twitter was left with only “four months to live,” which prompted a “drastic action” when he came on board, since the company was facing “a $3 billion negative cash flow situation.”
CEO and product architect of Tesla, Inc also said, “This is not a caring [or] uncaring situation. It’s like, if the whole ship sinks, then nobody’s got a job.”
Musk, the second world’s richest man purchased Twitter for $44 billion last October.
Since he took over the company, a lot of changes have taken place. The sack of top executives, the slashing of jobs, and enacting new policies on how user accounts are verified or labelled.
He told the BBC that, since then, Twitter is now “roughly” breaking even and advertisers are returning to the platform.