Social media app is hiring again, after owner Elon Musk slashed staff to cut costs. Read more at straitstimes.com.
SAN FRANCISCO - Linda Yaccarino, chief executive officer of social media platform X, said on Thursday that the company formerly known as Twitter is “close” to breaking even and is hiring to beef up a staff slashed by owner Elon Musk.
She credited, in part, X’s policy of allowing users to post anything legal, no matter how “awful,” but stopping it from being shared or benefitting from advertising. Mr Musk said last month in an exchange on what was then called Twitter that the company was “still negative cash flow” due to a drop of around 50 per cent in advertising revenue “plus heavy debt load.”
As marketers soured on Mr Musk’s management style and mass firings, which gutted content moderation, the platform’s advertising business collapsed.
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