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Elon Musk says Twitter is no longer in danger of going bankrupt, but there is still a lot of work to be done.
The current head and owner of Twitter, Elon Musk, has been paying enough attention to his efforts to reduce costs lately. Earlier it became known that the measures taken by him will allow the company to avoid negative cash flow next year. On Saturday, the billionaire said that although Twitter is not facing imminent bankruptcy, there is still much to be done to save the business.
Recall that earlier Elon Musk figuratively stated that “Twitter is heading for bankruptcy at full speed,” and daily losses could reach $4 million. managed to largely take control, and to bankruptcy it is now not moving at full speed. Musk later added that while Twitter's bankruptcy may not be the same, there is still a lot of work to be done to keep the company safe.
Recently, Twitter users have the ability to control the display of the number of views of their posts. According to Musk, "in general, everything is moving in the right direction." After Elon Musk's October purchase of Twitter, the company was left with $13 billion in debt, and in the early days the new owner began to actively cut staff and cut costs as part of compensation packages. The vacated office space at the headquarters of Twitter Elon Musk ordered to be converted into places for the night and rest of the remaining employees, which caused displeasure of the municipal authorities of San Francisco. In early December, Musk sold some $3.6 billion of his shares, calling it a kind of "airbag" for Twitter, but at the same time promised that he would refrain from further sale of the company's shares in the next year and a half or two.