X is making a fresh hiring move, bouncing back from a workforce slash post Elon Musk‘s acquisition. CEO Linda Yaccarino reveals the platform’s efficiency is nearly balancing out and its advertiser relations are on the upswing. The earlier decline and layoffs saw a decrease of 50% of employees.
I’ve been at the company eight weeks, The operational run rate right now… we’re pretty close to break even.
Yaccarino said in her first broadcast interview since taking on her new role.
Joining X earlier this year, Yaccarino has revealed that the operational performance of the social media platform is on the verge of hitting a break-even mark. She emphasized the remarkable turnaround in the company’s advertiser relationships, which had seemingly suffered after Musk took the reins at Twitter. Impressively, she also disclosed that a number of advertisers who had previously left the platform are now making their return, as reported by various media outlets
Astonishing as it sounds, this pronouncement arrives amidst the financial turbulence that followed Elon Musk’s takeover. Ad revenue takes a nosedive as brands halt their platform investments. X has taken extreme measures to boost its cash influx — who can forget the rate limiting episode for non-Twitter Blue subscribers? And the steep charges for API access that left the developer community reeling?
But if Yaccarino’s account can be trusted, it seems that X’s financials are shaking out. After all, it did reduce its staff size from around 8,000 to 1,500 — though laid off employees have still yet to receive their promised three months of severance. Those aren’t the only outstanding payments that the company is on the hook for. X is also facing multiple lawsuits over not paying rent for company office spaces in several countries.
“Our responsibilities are distinctly defined,” Yaccarino stated, and she added that while Musk concentrates on the technological and product aspects, her focus encompasses “all other areas.” The company has not posted any available positions on LinkedIn or its official careers website. Meanwhile, just weeks after Twitter’s rebranding as ‘X’, Elon Musk is auctioning signs and other items from the company, according to a report by BBC.com.
“Among the 584 lots on offer are coffee tables, outsized bird cages, and oil paintings of images that went viral,” said the report.