00:00It's Benzinga, and here's what's on the block.
00:03X CEO Linda Iaccarino has faced pressure from Elon Musk to raise more revenue and cut costs
00:08as X has struggled to attract advertisers since Musk's takeover.
00:12Major advertisers cut spending on X by 55% during the 2024 Super Bowl compared to the
00:18previous year, and many initially abandoned the platform when Musk acquired it in late
00:222022.
00:23Tensions have grown between Iaccarino and Musk as she has struggled to stabilize X's
00:28over the past year since becoming CEO.
00:31Social media consultant Matt Navarro stated that the ongoing chaos would significantly
00:35affect the morale and stability of the company's staff.
00:38For all things money, visit Benzinga.com.
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