Musk Says Cost-Cutting Averted $3 Billion Twitter Shortfall
- Twitter was on course to post revenue of $3 billion: Musk
- Musk has confirmed he will step down as CEO after poll
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Elon Musk said Twitter Inc. was on course for $3 billion of negative cash flow before he stepped in to stem losses by dismissing more than half the company’s staff.
“That is why I spent the last five weeks cutting costs like crazy,” Musk said during a Twitter Spaces event late Tuesday. “This company is like, basically, you are in a plane that is headed toward the ground at high speed with the engines on fire and the controls don’t work.”