Boss of Musk's Network X announces new hires
Following mass layoffs, cost-cutting measures, and a slump in advertising revenue, the online service Twitter—recently renamed X—says it is back on the upswing. X is reportedly «pretty close to breaking even.».
This was said by company CEO Linda Yaccarino to US broadcaster CNBC on Thursday. In the interview, she announced the hiring of new employees.
After twelve years as advertising chief at media conglomerate NBCUniversal, Yaccarino had taken the helm of the short messaging service two months ago, replacing Elon Musk at its helm (Werbewoche.ch reported). The multi-billionaire, who bought the company last year, remained CEO.
Musk is focused on product design and working on the future of the platform, and she is running the rest of the company and "taking it to market," Yaccarino said. In doing so, she is autonomous, the X boss stressed when asked by the CNBC journalist.
Technology billionaire Musk took over the platform last year for 44 billion dollars and initiated a radical restructuring. He dismissed the top management and more than two-thirds of the approximately 8,000 employees. As a result, advertising revenues collapsed. Musk also made far-reaching changes for users, including the introduction of a payment subscription for account verification.
Most recently, Musk renamed Twitter X at the end of July and gave the platform a new logo. His vision is to transform the platform into a super app based on the Chinese model WeChat, which can also be used to make online purchases and payments. (SDA)
