A number of major ad agencies and media buyers told the Financial Times that nearly every major brand they represent has halted spending on the platform amid concerns over Musk’s bespoke approach to content control and a decision to fire many of the team by selling ads. .
As a result of these layoffs, the team has shrunk so much that many agencies have almost no connection to the company.
Some brands have been unable to gain feedback on the performance of previous campaigns due to staff shortages.
Musk is under pressure to extract revenue from Twitter as he faces $1 billion in annual interest payments after he saddles the company with $13 billion in debt to finance the takeover of the business.
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