Twitter's new owner and CEO Elon Musk has told staff to find up to $1 billion in annual infrastructure cost savings.

In messages about the 'Deep Cuts Plan,' seen by Reuters, staff say that they plan to find $1.5 million and $3 million a day in savings from servers and cloud services.

Twitter is exploring whether it can cut extra server space that is currently used to ramp up during periods of high traffic.

It may also reduce its spending on Google Cloud services.

Such cuts will increase the likelihood of outages and errors on the social media platform.

It already has a mixed uptime record, this year alone going down in January, March, July, and September.

A second September outage occurred when California's extreme heat wave caused its data center to shut down.

Musk is eager to reduce Twitter's costs after his acquisition added billions to the company's debt pile, raising its interest repayments to $1 billion a year - more than Twitter's total profits in 2021.

After taking over, the SpaceX and Tesla CEO announced he would fire half of the company's staff and start charging blue tick users $8 a month. He also tweeted links to conspiracy theories, leading advertisers to pause their spending.