Musk: Twitter is like a plane falling, with engines involved in fire

Elon Musk compared Twitter to an airplane accident after he explained his reasoning about lowering costs in the company by adopting massive layoffs in the weeks after buying it.

This company is like you're on an airplane that's headed towards the ground at high speed, with engines on fire and non-functioning controllers, Musk said on a Space Twitter late Tuesday night, writes Business InsiderHe's following in on Telegrafie.

During the conversation, Musk acknowledged that his “actions may sometimes seem false or strange, or any other”.

This is because we have an emergency fire drill in our hands”, he added. “No, because I'm a natural whiz”.

Twitter CEO who is currently looking for his replacement, said that ahead of his measures to cut costs, the company was on track for a negative flow of money of about $3 billion next year.

The Twitter financial situation is also affected, Musk said, by the $12.5 billion debt the company received as part of Musk's purchase.

This debt has annual service costs of around $1.5 billion, Musk has said further.

These costs have increased because interest rates are “remembered”, he added.

Thanks to layoffs and increased subscribers' income through Blue Twitter, Musk now believes the company will stop “money flow” next year.

He added that the company would be dead “” if he had made no changes.

The number of staff has dropped from 7,000 to approximately 2,300 since Musk took over as head of the company, according to BI's Kali Hays.

The New York Times also reported that Twitter has stopped paying the rent to its offices and has refused to pay 200,000 dollars in costs for private aircraft flights.

Otherwise, Twitter users voted to leave Musk's post CEO, in a survey that is available by Musk.