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Friday, July 5, 2024

According to the report, Elon Musk’s Company X recently fired several people and delayed promotions.

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According to the report, Elon Musk’s Company X recently fired several people and delayed promotions.

According to a report, Elon Musk’s company X has recently laid off some people and the performance review process is also getting delayed. X CEO Linda Yaccarino did not talk much about the company’s business performance during a recent all-hands meeting.

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Ever since Elon Musk took over Twitter (now called X), the company has seen multiple layoffs. The platform has also undergone major changes and is no longer the same. A year ago, Linda Yaccarino was appointed CEO of X and took charge on June 5. Since then, Yaccarino has repeatedly made headlines. According to a report by The Verge, Yaccarino encouraged employees to promote Musk’s recent venture x.AI but did not talk much about the performance of X’s advertising business during a recent all-hands meeting. The report also states that several people at X were recently laid off and their performance review process was also delayed.

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The Verge reports that during a recent meeting, employees demanded to know about the company’s performance reviews amid growing concerns. According to the report, the promotion process at X has been delayed without any explanation. Furthermore, according to insiders, X’s sales team is not expected to meet its revenue targets for the quarter. Furthermore, a source at X also told the publication that the company has recently laid off a “handful” of people.

Sources also told The Verge that Steve Davis, CEO of The Boring Company and one of Musk’s closest associates, has been investigating financial matters at X’s San Francisco headquarters for several weeks. This has caused even more anxiety among employees.

As such, employees wanted more clarity about X’s business performance during the company’s performance review process as well as a meeting led by X CEO. However, The Verge says that employees did not receive enough information about these points.

The report states that Walter Gilbert, the head of HR at X, announced plans for a broader and more robust promotion process that would include regular checks throughout the year. Despite this, many employees felt that their important questions regarding HR, promotions, and compensation were not answered. In addition, Musk was absent from the meeting, although he was reportedly in San Francisco with Yaccarino.

Another New York Times report revealed that although Yaccarino talked about Axe’s advertising business, he did not share “updated sales figures.”

Yaccarino reportedly told employees that X saw 65 percent of advertisers return to the platform. However, sources told The New York Times that the return of advertisers does not necessarily mean an increase in revenue.

“There will be hundreds of client meetings and many moments when we get to demonstrate X. Our clients are cheering us on, and they are excited and amazed by our progress,” Yaccarino said, the New York Times reported.

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