After a significant reduction in workforce, X, the social media platform formerly known as Twitter, is set to rehire, according to CEO Linda Yaccarino. The company had previously seen a drastic cut in its staff numbers from 8,000 to around 1,500 under the leadership of Elon Musk.
Yaccarino, who took over the reins earlier this year, revealed in a recent CNBC interview that the company is transitioning from a phase of cost discipline to one of growth. "Growth means hiring," she stated, indicating a shift in the company's strategy.
Despite the massive layoffs, the company has managed to maintain an operational run rate close to breaking even. Yaccarino, a former advertising executive at NBCUniversal, also noted that the company's relationship with advertisers, which had reportedly suffered following Musk's takeover, was showing signs of recovery.
She confirmed that some advertisers who had previously left the platform were now returning.
Discussing the impact of the layoffs on the company's relationship with advertisers, Yaccarino acknowledged that the significant reduction in staff numbers would naturally have some effect. However, she emphasized that the cuts were a necessary measure to control costs and stabilize the company's financial position.
Yaccarino also shed light on her working relationship with Musk, stating that their roles within the company are clearly defined. While Musk focuses on technology and product development, Yaccarino handles "everything else," operating with a degree of autonomy granted by Musk.
Before Yaccarino's arrival, Musk had initiated a major downsizing at the company, urging employees to commit to working intensively or leave. However, Musk later admitted to CNBC's David Faber that the aggressive cost-cutting measures may have been too hasty.
He conceded that some of the employees who were let go might have been wrongly dismissed due to the rush to control costs. Musk hinted that the company might consider rehiring some of these individuals as part of its new growth strategy.
As of now, no open positions are listed on the company's LinkedIn page or its careers website. However, with the company shifting gears towards growth, it is expected that hiring will soon be underway.
-- India Today
