Elon Musk said Twitter has suffered a massive drop in revenue. He blamed it on activist groups pressuring advertisers.
Twitter Inc. has suffered “a massive drop in revenue” because of advertisers cutting back on using the social-media platform, new owner Elon Musk said Friday as the company started sweeping layoffs just over a week after the billionaire took it over.
Mr. Musk, in a tweet Friday, blamed the cutback in advertising on “activist groups pressuring advertisers.” He said that the company hadn’t changed content moderation and had tried to address activists’ concerns. “Extremely messed up!” he said, casting the move as an assault on free speech.
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