Tesla founder Elon Musk has been making drastic budget cuts since he became the Chief Executive Officer (CEO) of Twitter, where employees are bringing their toilet paper due to his firing of the janitorial staff.
According to the New York Times, saving money is the tech billionaire’s main priority. So much so that he sent some of his staff to Twitter’s Sacramento location to disconnect its servers. Additionally, Musk had stopped the company from spending millions of dollars in rent and services, ordering his subordinates to renegotiate existing agreements or end them. The Seattle location is looking at eviction, according to two anonymous sources who can’t discuss the matter.
Shutting down the data center was a big deal to Musk because he saw that he could save the company about $1 billion with infrastructure spending reductions. Musk also ended janitorial and security services, causing many remaining employees to bring their toilet paper from home to the office.
Months after buying the social media platform (late October), he had a live forum on Twitter and compared the company to a “plane that is headed towards the ground at high speed with the engines on fire and the controls don’t work.” He revealed that Twitter would have a “negative cash flow situation” of about $3 billion in 2023, which is why he’s making drastic changes.
Along with his budget cuts efforts, Musk also blocked many journalists from covering him, including those who reported on problems within the Tesla company, which he changed. Since Musk bought the company, about 75% of the company’s workforce has been either laid off or fired.
On Dec. 18, Musk created a Twitter poll asking if he should “stepdown as head of Twitter” and said he “will abide by the results of [the] poll.”
As a result, 57.5% of users voted yes, while 42.5% voted no. Two days after the poll was posted and finalized, Musk commented under the survey, “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I will just run the software and servers teams.”
Should I step down as head of Twitter? I will abide by the results of this poll.
— Elon Musk (@elonmusk) December 18, 2022