Elon Musk says Twitter is still losing cash because advertising has dropped by half.

In a reply to a tweet offering business advice, Musk tweeted, “We’re still negative cash flow, due to (about a) 50% drop in advertising revenue plus heavy debt load.”

“Need to reach positive cash flow before we have the luxury of anything else,” he concluded over the weekend.

Ever since he took over Twitter in a $44 billion deal last fall, Musk has tried to reassure advertisers who were concerned about the ouster of top executives, widespread layoffs and a different approach to content moderation. Some high-profile users who had been banned were allowed back on the site.

Twitter got a new competitor this month when Facebook owner Meta launched a text-focused app, Threads, and gained tens of millions of sign-ups in a few days. Twitter responded by threatening legal action.

UPS said it has started “business continuity“ training for managers, as a massive Teamsters strike looms if the two sides do not reach agreement by Aug. 1.

The announcement by UPS is an indication it plans to have management employees help deliver packages if there is a walkout. But that‘s still seen as unlikely to be enough to handle the work normally done by 340,000 Teamsters at UPS.

”We remain focused on reaching an agreement with the Teamsters that is a win for UPS employees, our customers, our union, and our company before Aug. 1,” UPS said in a written statement. “While we have made great progress and are close to reaching an agreement, we have a responsibility as an essential service provider to take steps to help ensure we can deliver our customers’ packages if the Teamsters choose to strike.”