Washington Post editorial writer & columnist Heather Long discusses the Federal Reserve’s management of rate cuts and the impact of the July jobs report.
The social media company X, which was formally called Twitter until it was purchased by Elon Musk, will reportedly close its San Francisco headquarters and move to Texas.
An internal email obtained by The New York Times from X’s chief executive, Linda Yaccarino to employees said workers would move to existing offices in San Jose. The company will also open an engineering-focused office in Palo Alto.
“This is an important decision that impacts many of you, but it is the right one for our company in the long term,” Yaccarino wrote.
ELON MUSK SUED BY OUSTED TWITTER EXECS FOR $128M IN SEVERANCE
Workers start to dismantle a large X logo on the roof of X headquarters on July 31, 2023, in San Francisco, California. X is slated to close its San Francisco office ahead of a move to the Texas capital, according to an internal memo. (Justin Sullivan/Getty Images / Getty Images)
Last month, Musk said he would move the company’s headquarters, as well as SpaceX, to the Texas capital of Austin after California passed a law banning school districts from requiring teachers and other faculty to notify parents when their child changes their gender identity.
“This is the final straw,” Musk wrote on X at the time. “Because of this law and the many others that preceded it, attacking both families and companies, SpaceX will now move its HQ from Hawthorne, California, to Starbase, Texas.”
TWITTER HIT WITH LAWSUIT CLAIMING EX-EMPLOYEES OWED AT LEAST $500M IN SEVERANCE PAY
Chief Technology Officer of X Elon Musk speaks onstage during the “Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk” session at the Lumiere Theatre during the Cannes Lions International Festival Of Creativity 2024. (Richard Bord/WireImage / Getty Images)
“And X HQ will move to Austin,” he added.
California Gavin Newsom, a Democrat, responded to Musk at the time, saying: “You bent the knee,” above the image of a social media post by former President Trump with a photo of him and Musk in the White House.
Musk purchased the social media platform in 2022, but the company has not paid rent to Shorenstein, the real estate company that manages X’s office building, the Times reported.
In this photo illustration, the logo of ‘xAI’ is displayed on a mobile phone screen in front of Elon Musk’s photo in Ankara, Turkey on July 13, 2023. (Hakan Nural/Anadolu Agency via Getty Images / Getty Images)
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FOX Business has reached out to X and Shorenstein.
