Preparations are in full swing for the company's biggest overhaul since buying the social media platform last year. NEW YORK - Billionaire Elon Musk said he is looking forward to changing Twitter's logo, the blue bird that has been a symbol of the brand. "We will soon bid farewell to the Twitter brand, and gradually to all birds," he wrote on his platform. "If a good enough logo comes out tonight, we'll launch it around the world Monday," Musk said in a tweet on Sunday morning. And he published a picture with a flashing letter X in the English language, without giving further details. Musk is preparing for his biggest overhaul since buying the social media platform last year. Under Musk's vocal leadership of the platform since its October purchase, the company has changed its business name to XCorp, reflecting the billionaire's vision of developing a "super app" along the lines of China's WeChat. And he wrote a tweet at the time, saying, "Buying Twitter is an acceleration of creating X.. It is the application of everything." Musk aspires to bring together all the services that any individual needs, under the roof of X, without the need to download dozens of applications on the mobile phone. Twitter's website describes the current logo, a blue bird, as "our most recognizable asset" and "that's why we protect it so fiercely". The bird's logo was temporarily changed in April to the image of the Shiba Inu dog on the Dogecoin cryptocurrency, which helped increase the currency's market value by $4 billion. And last Tuesday, a lawsuit was filed against Twitter alleging that the company owed at least $500 million in severance pay to former employees, marking the latest in a series of problems facing Twitter. Since Musk's acquisition, the company has laid off more than half of its workforce to cut costs. There were 7,500 employees when the company was acquired in 2022. Musk admitted that advertising sales during last June did not achieve the expected increase, but he expressed optimism about sales this July. Twitter has a heavy debt burden and no cash flow, Musk announced. While the American billionaire did not disclose the time period in which advertising revenues fell in half, he stressed the need to achieve positive cash flows before considering any other measures. This comes amid escalating competition with other platforms, such as TikTok, Facebook, and other platforms. Especially its new competitor, the Threads application, which was launched by the Meta Platforms company earlier this month, and attracted more than 150 million users, benefiting from its integration with the Instagram platform and reaching a potential user base of about two billion users through the Meta platforms that include Facebook, Instagram and WhatsApp. However, reports confirm that interest in the Threads platform has decreased a lot.