X Cuts 20+ Marketing Roles as Ad Revenue Falls 49%

X laid off Angela Zepeda, its head of global marketing, in February 2026 alongside more than 20 other nontechnical employees, as the platform restructures ahead of a planned SpaceX IPO targeting a US$1 trillion valuation.

X's Most Senior Marketing Role Eliminated in Restructuring Wave

Zepeda joined X in September 2024 as the platform's first dedicated marketing chief under Elon Musk's ownership. The role had been vacant since 2022. Her departure came approximately 17 months into her tenure.

Her primary mandate was rebuilding X's reputation with advertisers, who account for over 90% of platform revenue. In spring 2025, she told Adweek editor-in-chief Ryan Joe that X would launch a major brand campaign positioning the platform as a "digital town square." That campaign was never executed.

Prior to her departure, Zepeda stated publicly that "96 of our top 100 advertisers are back." Despite that claim, her role was eliminated as part of a broader nontechnical restructuring tied to X's merger with Musk's AI company xAI in a US$45 billion deal, and SpaceX's subsequent integration into xAI.

X has appointed Jon Shulkin, a longtime private-equity executive, as its new chief revenue officer. The platform is now pursuing advertiser recovery through direct financial incentives rather than brand repositioning.

Revenue Collapse Provides Context for Leadership Shift

X's advertising revenue declined from US$2.43 billion in 2021 to US$1.25 billion in 2025, a drop of approximately 49%. Total platform revenue fell from US$4.73 billion in 2022 to US$2.5 billion in 2024.

Omnicom-IPG Merger Cuts 4,000 Jobs, Compresses APAC Executive Pay

The Omnicom-IPG merger is eliminating senior advertising roles across Asia and compressing executive pay by up to 60% as the combined company pursues US$750M in savings.

Mission MediaMission Media

The advertiser exodus has been linked primarily to brand safety concerns following Musk's changes to content moderation after his 2022 acquisition. X's utility for business-to-business marketing has also declined sharply. The platform's share of B2B social media leads dropped from 32% in 2020 to 12.73% in 2024, compared to LinkedIn's approximately 80% share.

Shulkin's appointment signals that X's leadership now views advertiser recovery as a financial negotiation problem rather than a brand perception problem. The platform has reportedly offered financial incentives to returning advertisers as part of this revised approach.

Broader Tech Talent Market Adds Competitive Pressure

X's restructuring is occurring against a backdrop of elevated mobility among senior marketing professionals. One in three tech professionals switched jobs in the past two years, with 74% of firms citing talent retention as a primary concern.

North American marketing agency turnover declined modestly from 20% in 2023 to 18% in 2024, according to Campaign Live. However, this improvement was concentrated at junior levels. Mid-to-senior level churn remained elevated, precisely the tier most affected by X's restructuring.

X has now spent the majority of the Musk era without dedicated senior marketing leadership. The two-year vacancy before Zepeda's appointment, combined with her elimination 17 months later, leaves the platform without a CMO-equivalent for the foreseeable future.

X retains 540 million monthly active users and continues to hold advantages in real-time public conversation. The company's next steps regarding marketing leadership have not been announced.