Elon Musk’s turbulent reign at X, the social media platform formerly known as Twitter, continues. Reports indicate that the company is undergoing a fresh wave of layoffs, with the engineering department bearing the brunt of the cuts.
The news, reported by The Verge, citing sources and posts on the anonymous workplace forum Blind, comes as no surprise considering the recent turmoil surrounding X. After acquiring Twitter for a hefty $44 billion in October 2022, Musk controversially fired 85% of the staff, sparking widespread criticism. The value of the platform has also been a point of contention. Fidelity, one of the companies that helped Musk acquire Twitter, valued X at below $10 billion last month, a significant drop from the price Musk paid.
These latest layoffs follow an unusual request made to employees two months prior. Staff members were asked to submit a one-page summary detailing their contributions to the company. While the exact number of job cuts remains unknown, it begs the question: Did these summaries influence the recent layoffs?
This isn’t the first time Musk has implemented mass layoffs at one of his companies. Earlier this year, Tesla, the electric vehicle manufacturer he founded, also saw significant job cuts. The company reduced its workforce by at least 14%.
The continuous layoffs at X raise concerns about the platform’s future. Will Musk’s aggressive cost-cutting measures ultimately lead to a more efficient and profitable company, or will they result in a decline in X’s overall functionality and user experience? Only time will tell how these latest developments will impact the social media landscape.
