Musk confirms the improvement in the financial position of Twitter after cutting expenses

Elon Musk, head of Twitter, confirmed that the social platform is close to achieving positive cash flows, following taking a series of measures to fix its business.

Musk added that he expects Twitter to record a profit in the first quarter of 2023, following significant losses in the past months.

Musk indicated that he had cut regarding 80% of the number of employees at Twitter, from regarding 8,000 to just 1,500, to cut costs and increase efficiency.