During an internal all-hands meeting led by X CEO Linda Yaccarino on Wednesday, concerned employees tuned in to hear if she would address the pressing issue on their minds: performance reviews.
Sources inside the company confirm that a promotions process was recently delayed without explanation and that X’s sales team doesn’t expect to meet its revenue targets for the quarter. Given how the company formerly called Twitter has continued to struggle under Elon Musk’s ownership, employees have been bracing for more layoffs.
One of Musk’s key lieutenants, The Boring Company CEO Steve Davis, has been reviewing finances at X’s headquarters in San Francisco over the past several weeks, according to multiple employees who requested anonymity to speak without the company’s permission. As one of them described Davis: “He’s the grim reaper who only shows up for bad things.”
A source at X told The Verge that there have been a handful of people laid off in recent days. Many noticed the sudden departure of Yaccarino’s right-hand man, Joe Benarroch. So, when a rare all-hands meeting with her landed on employee calendars last week, X’s roughly 1,500 remaining staffers anxiously waited to find out more.
The meeting began with a montage of viral tweets, including one by infamous GameStop trader Keith Gill, followed by Yaccarino joining from an X conference room named “eXtraordinary.” She tried to drum up excitement about live events on the platform, such as the Super Bowl and March Madness, and urged employees to discuss Musk’s x.AI chatbot Grok with advertisers. She also emphasized that X’s focus on video has “definitely driving advertising” without elaborating.
As the meeting continued, X’s head of HR, Walter Gilbert, told staff that X is planning to implement a broader and more robust promotion process that will include “doing lighter-weight check-ins throughout the year.” One source who watched the meeting quipped that a bulk of the submitted employee questions were “definitely about HR, promotions, raises/equity” and not addressed.
Musk was noticeably absent despite him being in San Francisco along with Yaccarino. Instead, several other directors joined: Monique Pintarelli, head of advertising for the Americas, Nick Pickles, who leads policy, Kylie McRoberts, the company’s latest head of trust and safety, and Haofei Wang, director of engineering.
While Yaccarino was light on specific data about the performance of the advertising business, Pintarelli told staff that X now has over “50% of our revenue attributed to performance objectives,” which she described “as a pretty big shift from where the business was over the last few years.”
While this all-hands may not have given X employees many answers, Yaccarino did emphasize that the company will be conducting them once a quarter, adding that the team will “also be hearing quite soon from both Elon and I.”
Alex Heath contributed reporting.
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