Elon Musk on layoffs: ‘Twitter losing $4 mn a day. Unfortunately, no choice’

Amid a spell of layoffs at Twitter, one of the worst the social network has seen, Elon Musk on Saturday justified the restructuring decision as he stressed “unfortunately there is no choice”. Twitter, he added, is losing $ 4 million a day.

“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,” Musk tweeted.

“Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged. In fact, we have actually seen hateful speech at times this week decline *below* our prior norms, contrary to what you may read in the press, (sic),” he further added.