Billionaire CEO says social-media company was on track to log $3 billion in negative free-cash flow before cost cuts
Elon Musk said Twitter Inc. was on track to post negative cash flow of $3 billion a year before the company slashed costs in part by cutting thousands of jobs.
“That is why I spent the last five weeks cutting costs like crazy,” Mr. Musk said during a Tuesday evening conversation on Twitter Spaces. “That’s the reason for my actions. They may seem sometimes spurious or odd or whatever. It’s because we have an emergency fire drill on our hands.”
