Update (1045ET): In a Friday tweet shortly ahead of the planned 9am mass layoffs, Musk says that advertisers are bailing due to pressure from activists, which has led to a 'massive drop in revenue' despite no changes to the company's content moderation.
"We did everything we could to appease the activists," Musk added.
On Thursday we noted that several brands have 'paused' advertising campaigns with Twitter - including food giant General Mills, Oreo maker Mondelez, pandemic profiteers Pfizer and Volkswagen's Audi.
Kelsey Roemhildt, a spokeswoman for General Mills, whose brands include Cheerios, Bisquick and Häagen-Dazs, confirmed the company has paused Twitter ads. “As always, we will continue to monitor this new direction and evaluate our marketing spend,” she said.