On the same day that mass layoffs began on Twitter this Friday (4), Elon Musk asked people to focus on the future of the social network and not just the present, during an investment conference in New York.
At the event, the billionaire, who acquired the platform for $44 billion last week, expressed frustration with advertisers halting their spending on the social network and the ensuing drop in revenue.
According to the businessman, Twitter did not make changes to its content moderation operations that would justify the departure of advertisers, which he attributes to pressure from activist groups.
“We did our best to appease them and nothing is working,” he said of the activist groups. “This is a major concern and, frankly, an attack on the First Amendment,” he says, referring to the American legal instrument that protects freedom of expression. Twitter has suffered “a massive drop in revenue” because of advertisers cutting back on the social media platform, Musk said.
Meanwhile, about 50% of Twitter’s workforce has been hit by layoffs, according to an email sent overnight to one of those affected in the US, which was seen by Wall Street Journal.
Twitter had more than 7,500 employees earlier this year, according to a regulatory filing.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
