Elon Musk's X Navigates Restructuring Amid SpaceX IPO Buzz

Elon Musk's company X is undergoing significant restructuring ahead of the anticipated SpaceX IPO. The company's marketing chief, Angela Zepeda, was let go amid the reshuffling. X is focusing on eliminating redundant positions and is advancing plans to launch X Money, an internal payments business.

Elon Musk's enterprise, X, is navigating a considerable restructuring phase, reported to be in preparation for the upcoming SpaceX IPO according to the Wall Street Journal. The shakeup saw the exit of Angela Zepeda, who served as X's Marketing Chief since September 2024 until her dismissal last month following Musk's announcement of a merger between XAI and SpaceX.

In efforts to streamline operations and boost profitability, X has been removing redundant roles. The company recently executed a significant reduction in its nontechnical workforce, letting go of over 20 staffers, according to WSJ reports.

Despite the organizational shifts, X remains steadfast on its trajectory to rollout X Money, a payments arm integrated into its social-media platform. The endeavor highlights Musk's intent to diversify and bolster revenue streams as part of a broader strategic vision.

(With inputs from agencies.)