Elon Musk's Twitter faces exodus of advertisers and executives

At least five Twitter executives quit in recent days as one of the world's biggest advertising companies said customers should suspend their spending on the social media platform.

SAN FRANCISCO - Twitter faces an exodus of wayward executives and advertisers as Elon Musk and his advisers take control of the social media company, preparing to lay off employees and make changes to the product.

At least five senior Twitter executives, including the director of marketing, chief account officer, head of human resources and diversity, and head of product, left the company in recent days, according to seven people with knowledge of the case and public statements. Two announced their departure on Twitter on Tuesday; they did not say why they had resigned. Other executives could leave, the people said.

At the same time, advertisers - which provide around 90% of Twitter's revenue - are increasingly grappling with Mr. Musk's ownership on the Platform. The billionaire, who is meeting with advertising executives in New York this week, has spooked some advertisers because he said he would relax Twitter's content rules, which could lead to an increase in misinformation and other toxic content.

IPG, one of the world's largest advertising companies, on Monday issued a recommendation through its media agencies for clients to suspend their spending on Twitter temporarily due to moderation issues, three people with knowledge of the communication said. The Global Alliance for Responsible Media, a coalition of platforms, advertisers and industry groups that fights harmful content on social media, also said this week that it is monitoring how Twitter plans to handle moderation. content.

Twitter is in disarray as it adjusts to a new reality under Mr. Musk, who completed his $44 billion takeover of the company last week. Mr. Musk immediately fired Twitter's chief executive, chief financial officer and others before moving quickly to install close confidants and trusted engineers from his other companies into the social media firm.

Since then, Mr. Musk and his advisers have been working on product changes and major cuts to Twitter's ranks. Officials at Twitter, which has about 7,500 employees, said they were finishing lists of high and low performers, most likely in preparation for layoffs. While several employees have already been laid off, the timing and extent of the mass layoffs remains fluid.

On Tuesday, Mr. Musk said on Twitter that users would begin to pay $8 per month for the Twitter Blue service, which would verify users with a check mark. Followers would see fewer ads, be able to share long videos and bypass paywalls from news outlets that partner with Twitter, he said.

"Power to the people!" he tweeted.

A Twitter spokeswoman declined to comment. Mr. Musk did not respond to a request for comment. IPG did not immediately respond to requests for comment. A reporter for the tech and financial newsletter Morning Brew tweeted IPG's recommendation.

Executives who left Twitter in recent days include Chief Marketing Officer Leslie Berland; Jay Sullivan, Product Manager; Sarah Personette, chief account officer, who managed the company's relationships with advertisers; Dalana Brand, People and Diversity Manager; and Nick Caldwell, the executive responsible for core technologies like infrastructure. Their departures leave Twitter with some of the executives it had before Mr. Musk sealed the deal with the company on Thursday.