Elon Musk: What happened to the social network X after Donald Trump’s ally dismissed 80% of employees | MAG

In October 2022, when Elon Musk bought Twitter, currently X, in addition to – according to his words – protect freedom of expression and defend himself from “Woke” thought, he did not hesitate to restructure everything, something that was seen coming, but what few They imagined was the staff cut that would occur, since only six months after this acquisition for US $ 44,000 million, he revealed that he had greatly reduced the number of employees by 80%; That is, it went from having 7,500 workers at 1,500. Now, just over two years later, the panorama would be repeated again in terms of employee reduction; And after becoming an ally of the Republican, the owner of Tesla undertook a campaign to get rid of 10% of the United States federal employees, which total 2.3 million. Given this situation, the one who wonders the least with the social network after the mass dismissal. In the following lines, we tell you.

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Following the “great purge” he wants to do in the Elon Musk government, one of the most influential figures of President Donald Trump, we told you what happened exactly with the social network X, of which he now owns, after having dismissed to 80% of workers in April 2023. Well, that dramatic cut of staff caused X to suffer a financial blow, something that many avizo. So many were the losses that, at the end of 2023, their advertising income decreased to US $ 2,500 million, “a decrease of more than 45% compared to Twitter ads sales in 2021, its last full year as a public company,” says Forbes

This caused Fidelity, an American company specializing in asset management and pension funds, reduced the valuation of this social network to US $ 9,000 million in September 2024; That is, almost fifth of what Musk disbursed when he bought the company. From this, he reorganized everything from its operations to reformulate its platform.

But did all these adjustments really be worth? In a way, although the advances are slow, the social network has shown some recovery, which is reflected in the new assessment that Fidelity gave it, which increased to US $ 13,000 million in December. Not only, important advertisers were renewing their presence on the platform. For its part, Bloomberg reported that X managed to generate US $ 1.2 billion in awarded profits in 2024, a figure that almost approaches US $ 1.4 billion in 2021, a great achievement if we take into account that the number of workers was much lower. Therefore, this situation could improve, especially because of the great relationship that Elon Musk has with President Donald Trump.

The staff cuts intended to execute Elon Musk in the Government, as in the then Twitter company, would generate legal challenges, since the employees who will be affected will not hesitate to go to trial for various reasons such as compensation payments and other demands.

“Musk is now using the same Twitter Manual with the Federal Government, and it didn’t even occurred to him a new matter of email”He told NPR Shannon Liss-Aordan, a lawyer who represents many of the former Twitter/X employees in the arbitration against Musk.

Judith Vicente