New Delhi (India), 17th May 2023: After substantially reducing Twitter’s employment following his takeover, Elon Musk claimed the business will try to rehire some of them, recognising that the job cutbacks were too deep and too severe.
Musk has reduced Twitter’s employment by 80%, from 7,800 to around 1,500, in an effort to decrease costs and return the firm to profitability.
Musk sat down in an interview with CNBC anchor David Faber after the 2023 Tesla annual shareholder meeting Tuesday at the car maker’s headquarters in Austin, Texas.
Acknowledging that the layoffs were too deep Musk confessed and said, “Some people who were let go probably shouldn’t have been.” But he also clarified the actions by saying that “Desperate times call for desperate measures.”
He stated that the corporation has a negative cash flow of $3 billion and only $1 billion in cash on hand. After the board of directors of Twitter fought Musk’s acquisition attempt, the company went to court to hold him to the terms of his offer.
However he said that Twitter will hire and “if they(laid off workers) are not too mad at us , probably rehire some of the people that were let go.”
