Elon Musk Hints At Job Cuts In First Address To Twitter Employees

In his first address to Twitter employees, Tesla CEO Elon Musk addressed possible layoffs at the company saying that, right now, "costs exceed revenue. That’s not a great situation".

New Delhi: Tesla CEO Elon Musk addressed Twitter employees for first time even though his $44 billion offer has not yet been completed and hinted at job cuts. “Costs exceed revenue. That’s not a great situation,” Elon Musk said in the meeting.

During his virtual address to Twitter workers, Elon Musk also touched on growth, saying he’d like to see Twitter reach a billion users — roughly four times its current user base ) and anonymity, where he earlier created a stir when he said he wants to “verify all humans” on the service. At the meeting, he clarified that this does not mean he wants to have everyone on Twitter use their real names, like on Facebook, since pseudonyms can allow people to express their political views freely, according to The New York Times.

“Trust is as trust does. I tend to be extremely literal in what I say…One does not (need) to read between the lines. One can simply read the lines,” Musk said in the meeting, according to a tweet from Nola Weinstein, Twitter’s global head of brand experiences and engagement.

One of Musk’s key points at the meeting was to make Twitter “so compelling that you can’t live without it,” Weinstein tweeted. Musk, who has more than 98 million followers on Twitter and its one of the platform’s most prolific users, also said that while some people “use their hair to express themselves, I use Twitter,” according to Weinstein.

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Musk reached a deal to acquire Twitter in April, but he has clashed with the company repeatedly since then over the number of bots, or fake accounts, that exist on the social media platform. Musk said he was putting the deal on hold on May 13, although it seems unlikely that he can do that on his own. Musk said he needed more data from the company about those bot accounts, despite the fact hat Twitter has reported its bot estimates — and its admission that they may be too low — to investors for years.