Twitter CEO Elon Musk Says Twitter is losing over $4M monthly.
In a Twitter post, he noted “Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day.”
Elon clams that “Everyone exited was offered 3 months of severance, which is 50% more than legally required.”
“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.”
He was reacting to Yoel Roth, the Head of Twitter Safety and Integrity remarks on Twitter’s Trust and Safety which he termed as “Excellent summary of Twitter’s Trust & Safety from the head of the team.”
In a long Twitter post, Yoel Roth wrote:
“Here are the facts about where Twitter’s Trust & Safety and moderation capacity stands today:
tl;dr: While we said goodbye to incredibly talented friends and colleagues yesterday, our core moderation capabilities remain in place.
Yesterday’s reduction in force affected approximately 15% of our Trust & Safety organization (as opposed to approximately 50% cuts company-wide), with our front-line moderation staff experiencing the least impact.
Last week, for security reasons, we restricted access to our internal tools for some users, including some members of my team. Most of the 2,000+ content moderators working on front-line review were not impacted, and access will be fully restored in the coming days.
With early voting underway in the US, our efforts on election integrity — including harmful misinformation that can suppress the vote and combatting state-backed information operations — remain a top priority.
What AREN’T we doing? In the short term, we’ve had to deprioritize a few workflows — like account access (lost password requests), and some suspension appeals. We’re working to get these back online in the days to come.
I’ll continue to share updates about our Trust & Safety work as things evolve in the days to come. Our team’s mission of enforcing our policies and protecting the conversations happening on Twitter remains unchanged.
Recruiters: My DMs are open — I have recommendations for incredibly smart and compassionate talent that is now available.”
His remarks comes as Elon continues with lay off of staff, a week after Twitter take over.