X Layoffs: Employees at Elon Musk-Owned Company Fear About Potential Job Cuts Amid Delayed Performance Review, Says Report
According to a report, employees fear about potential X layoffs as the performance review process was delayed. During the X all-hands meeting, CEO Linda Yaccarino along with head HR, Walter Gilbert, did not address the questions submitted by the employees, making them more concerned.
San Francisco, June 13: Elon Musk, after taking over Twitter (now called X), announced a series of layoffs reducing the workforce of the company which affected thousands of employees. In November 2022, the Twitter layoffs reduced the workforce by 50%, around 7,500. Following that, more layoff rounds were conducted in following months cutting more jobs at X. Elon Musk reportedly asked the employees to justify their roles, rate their colleagues, and prepare for "high-intensity" work.
According to the latest report by The Verge, X employees fear potential layoffs as the performance review process is delayed. X CEO Linda Yaccarino led an internal all-hands meeting on June 12, 2024. During the meeting, the employees anticipated that she would address the fears that had been going in their heads about the potential X layoffs. The fear among the X employees increased as the Elon Musk-owned company delayed the performance review without giving any explanation. Layoffs 2024: Fintech Startup Simpl Lays Off 30 Employees in Another Round of Job Cuts.
The report also mentioned that the X sales team did not meet the expected targets for the quarter and that one of Elon Musk's key lieutenants, Steve Davis, The Boring Company CEO, had been reviewing the finances at X's headquarters in San Francisco. These sparked more concerns among the social company's employees. Multiple anonymous employees reportedly described Steve Davis as a "grim reaper" who showed up for bad things.
Recently, X CEO Linda Yaccarino's right-hand man, Joe Benarroch, also departed the company. The report said that a handful of employees were laid off at the company in recent times. The report said about 1,500 staffers remained anxious to find more details during a rare all-hands meeting last week. During the X all-hands meeting, the CEO tried drumming up excitement about the live events, talked about advertising and shared a montage of viral tweets. Tenaris Layoffs: Europe-Based Global Steelmaker To Lay Off Nearly 120 Employees in Beaver County.
During the meeting, Walter Gilbert, head of HR at X, addressed the staff and said that the company would implement a "broader" and "more robust" promotional process, including "lighter-weight check-ins throughout the year." However, the report mentioned that the meeting did not address the questions submitted by the employees. The Verge cited, "Given how the company formerly called Twitter has continued to struggle under Elon Musk's ownership, employees have been bracing for more layoffs."
(The above story first appeared on LatestLY on Jun 13, 2024 11:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).