US 2022 Mid-term Elections have ended,.. sort of. The final results are still expected with anticipation. In fact, apart a few areas, the results are still too early or too close to call. The key Georgia Senate race, between the incumbant Sen. Raphael Warnock and the challenger Herschel Walker, is heading for runoff and many other key races remain too close to call. In general, the results fell short of expected sweeping gains by GOP. But, the losers are somewhere else: social media tech-giant companies..
As of now, the electiion results are still being tallied and some trends are already showing. Hence, which party will control the House and the Senate remains unclear. What is sure is that the Democrats had a much better night than expected.
In fact, before the elections, Republicans were favored to score sweeping gains and, hence, the GOP to take full control of the U.S. House of Representatives and at least equal Democrats in the Senate. What is sure now is that the projected results fell short of the sweeping gains the GOP had anticipated.
The key races have been the in following states: Nevada, Pennsylvania, Ohio, Wisconsin, Florida, and Georgia.
Meanwhile, as the elections were going on, a major event was unfolding: the demise of the major social media corporates. With the demise, the two social media corporates are now viewed the main losers of the US Mid-term elections.
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Losers: Twitter and Mega Facebook
Just as the elections were fueled and entering the phase when social media are critical, dysfunctions and major challenges in the key companies started to show.
In October 2022, as it was being acquired by its new owner Elon Musk, Twitter announced mass layoffs, impacting roles across the company worldwide. According to reports, more than 50% of the employees were laid off, mostly in the US , including more than 90% of staff in India alone. According to reports, only 12 employees remain in India.
In Africa, according to reports, Twitter laid off nearly all the employees in its only African office, only four days after it opened in the Ghanaian capital Accra, with only one employee appearing to have been retained in the Accra, Ghana office.
Just as the elections were going on in early October and early November 2022, prospects of layoffs at Facebook parent company Meta were leaked. On Wednesday, November 9, 2022, as the results of the elections were being released, Meta announced that it is laying off 11,000 employees or 13% of its staff, the most significant job cuts in the tech giant’s history.
Meta and Twitter layoffs during the elections and end of the year period when social media play a pivotal role show that the two companies are facing major challenges to their core business.
It is true that the layoffs have been observed at other tech firms in recent months and are expected in months to come, as a reaction to high inflation, rising interest rates and a looming recession.
However, given the timing of the major layoffs, the two companies are arguably the main losers of the US 2022 Mid-Term elections.
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