shockedcanadian
Diamond Member
- Aug 6, 2012
- 30,913
- 28,201
- Thread starter
- #81
fyi
If memory serves, Twitter wasn't losing an exorbitant amount of money, until Elon Musk bought it....
Musk paid a really, really, really high top dollar for it.
First, yes it was losing money and it was a bloated government entity. The fact that all of the corporations removed their advertising dollars confirms it was just a propaganda vehicle, not a square for free speech.
Check out the sharp decline BEFORE Musk even bought it. The increases to their staff were ridiculous. The former CEO had to have been intentionally trying to bankrupt them.
These are numbers from between 2018 and 2022. Absurd mismanagement and bloat. Even the former excuse for a CEO admitted this:
One chart shows why Elon Musk axed half of Twitter's workforce
Revenue generated by individual employees at Twitter fell drastically before Musk swooped in.
![www.businessinsider.com](https://www.businessinsider.com/public/assets/BI/US/favicons/apple-touch-icon-192x192.png?v=2023-11)
Since 2018, Twitter has seen a drastic fall in the revenue generated per employee. The number fell from $776,112 in 2018 to our annualized figure of $634,666 in 2022, illustrating the firm's continued struggles to turn a profit.
At the same time, Twitter almost doubled its headcount from 3,920 in 2018 to around 7,500.
Since taking over, Musk has laid off thousands of staff and been vocal about focusing on a core of critical engineers, publicly lambasting those whose work appears less than necessary. Insider's Kali Hays reported last month that the billionaire remains highly focused on cost-cutting — sometimes at the expense of Twitter's functionality.
When making Twitter's first round of cuts in November, Musk tweeted that "unfortunately there is no choice when the company is losing over $4M/day." Those who remained were told to expect an "extremely hardcore" working culture.