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For the first time today, Elon Musk actually defended the drastic nature and the scale of the mass layoffs at Twitter. claiming he had to take the drastic step to save a sinking ship, and that at one point Twitter had just enough cash to survive for three monhs.
Twitter has laid off at least 200 employees, or 10 percent of its workforce, according to The New York Times, as job cuts continue at US tech behemoths.
In early November, Twitter laid off about 3,700 employees in a cost-cutting measure by Elon Musk, who acquired the company for $44 billion.
After 60 days of layoffs, terminated employees have not yet received information about extra severance or the continuance of their health insurance.
Elon Musk on Wednesday said that severe cost cuts at Twitter had repaired the company's dire finances as he set out to find a new CEO for his troubled social media platform.