Elon Musk Begins Layoffs on the X Platform
Elon Musk has reached a number of important agreements to further integrate the social network with his other personal companies. This was reported by Zamin.uz.
As a result of these processes, layoffs have also been carried out on the X platform. Over the past months, Musk first merged the X network with the AI startup xAI, and later incorporated this new structure into the SpaceX space company.
According to The Wall Street Journal, it was these recent structural changes that led to the start of layoffs at X. Reports indicate that more than twenty employees have lost their jobs in recent weeks.
Primarily, specialists working in positions considered redundant after the mergers were dismissed. So far, according to reports, this process has had little impact on technical teams.
Among those who were laid off is Angela Zepeda, who has been serving as Chief Marketing Officer since September 2024. It is reported that Jon Shulkin, CEO of revenues at xAI and partner at Valor Equity Partners, is urging the remaining employees at X to focus on reducing costs and increasing sales volume.
As Musk's group tries to catch up with competitors in social media and artificial intelligence sectors, advertising and services for large organizations are seen as the main ways to increase revenue. The research company Emarketer predicts that advertising revenue on the X platform in the US will increase by one and a half percent, reaching one billion one hundred seventy million dollars.
Global advertising revenue is expected to rise by two and a half percent, reaching two billion nineteen million dollars. However, these figures remain significantly lower than the four billion five hundred eleven million dollars in revenue Twitter saw in 2021 before Musk acquired the platform.
Meanwhile, although the X Money financial service has been slightly delayed due to regulatory issues, Musk has announced that public use could begin next month.
