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

Musk, who took management of the agency final week, stated the income decline got here “even though nothing has changed with content moderation and we did everything we could to appease the activists.”

“Extremely messed up! They’re trying 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.

Last month, Musk stated he needs Twitter to be “the most respected advertising platform”, in a bid to realize the belief of advert patrons forward of the shut of his deal.

Several corporations together with General Mills Inc and luxurious automaker Audi of America have already got paused promoting on Twitter, whereas General Motors stated it had quickly halted paid promoting.

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

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

However, there isn’t a readability but on the severance bundle to be paid to staff laid off in India.

The whole 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 a large train to downsize the corporate’s international workforce.