Elon Musk Says Twitter’s Income Noticed “Huge” Drop, Blames Activist Teams

Twitter’s new proprietor Elon Musk stated on Friday that the social media firm had seen a “huge” drop in income and blamed activist teams pressuring advertisers.

Musk, who took management of the agency final week, stated the income decline got here “despite the fact that nothing has modified with content material moderation and we did every part we may to appease the activists.”

“Extraordinarily tousled! They’re attempting to destroy free speech in America,” he stated in a tweet.

Twitter recorded a fall in income in its final reported quarterly leads to July, blaming Musk’s $44 billion (almost Rs. 3,61,600 crore) proposal and weakening digital promoting market.

Final month, Musk stated he needs Twitter to be “essentially the most revered promoting platform”, in a bid to achieve the belief of advert patrons forward of the shut of his deal.

A number of firms together with Basic Mills Inc and luxurious automaker Audi of America have already got paused promoting on Twitter, whereas Basic Motors stated it had quickly halted paid promoting.

In one other transfer, Twitter has fired nearly all of its over 200 workers in India as a part of mass layoffs throughout the globe ordered by its new proprietor Elon Musk who’s seeking to make his $44 billion acquisition work.

Sources stated the layoffs are throughout engineering, gross sales and advertising and marketing, and communications groups.

Nevertheless, there is no such thing as a readability but on the severance package deal to be paid to workers laid off in India.

The complete advertising and marketing and communications division in India has been sacked, the sources stated.

World’s richest businessman Musk started his innings at Twitter final week by firing the CEO Parag Agrawal in addition to the CFO and another prime executives.

This was adopted by an exodus of prime administration. Musk has now began an enormous train to downsize the corporate’s international workforce.