Twitter losing about $3 million a day: How Elon Musk’s ‘Deep Cuts Plan’ aims to tackle this

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Tesla CEO Elon Musk’s Twitter takeover deal has been mired with controversies. Since the takeover, the billionaire is continuing to take stern steps and attracting criticism from multiple quarters. The company is said to be losing about $3 million a day and the ‘Cheif Twit’ wants to cut those losses. Apart from job cuts, Musk is now finding other ways to save “between $1.5 million and $3 million a day”. As per a report, the SpaceX chief has now ordered Twitter to save up to $1 billion in annual infrastructure cost.
Citing a source, Reuters reports that Twitter is exploring whether cutting extra server space, which is kept to ensure Twitter can handle high-traffic events, sustain in such situations. This rumour has raised concerns that these cost cuts will affect the microblogging site during “high-traffic events like the US midterm elections,” the report suggests.

The new project is named “Deep Cuts Plan” and the company is planning to save between $1.5 million and $3 million a day from servers and cloud services, the report said. It added that considering all the spending and revenue, Twitter is “currently losing about $3 million a day..
Why these cost cuts can be a concern
The report notes that these ‘deep cuts’ can expose the Twitter website and app during major events like “moments of crisis or major political events” when several users will access the social media site at the same time to read and share information
Twitter has not yet responded to these alleged plans.

Apart from this, the report adds that Google Cloud services can also see cost cuts as spending reduces on the platform. Google Cloud also hasn’t responded to these allegations.

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