> Rumor is that Twitter lost $700-million/year or so in ad revenue at its latest advertising conference.
And having lost its CRO, who walked out on Thursday, Musk tried to repair the damage himself on a conference call with major advertisers, who started adjusting their spending down while on the call. Twitter's ad revenue for 2023 will be a smoking crater.
$1.3 Billion debt service (assuming 10% CCC Bonds locked into April 2022 on $13 Billion in debt)
Assuming 3500 staff were let go, do you really think each staff member was costing the company $370,000 / year ? I don't think so. I'd estimate the costs-per-head to be under $200,000 for the typical staff member (sure, maybe some set of senior programmers are paid $250,000 with + $100,000 in benefits, but there's not _THAT_ many senior level staff. And the seniors are exactly the people you don't want to be firing)
Even then, that's just the debt issue. Rumor is that Twitter lost $700-million/year or so in ad revenue at its latest advertising conference.
My current estimate to Twitter's yearly losses is _STILL_ on the order of $1100+ Million or so, even with all the staff reductions. (Originally $2+ Billion or so losses/year, but maybe 900-million/year saved from this firing spree)