Since Twitter was taken over by Elon Musk, the world's richest man has fired more than half of the social media company's employees, and has also lost a number of advertisers who now want to see the company stabilize before returning to advertising.
But the company's financial woes appear to have worsened when it recently emerged that at least a third of Twitter's regular advertisers have stopped buying ads on the platform in the past two weeks.
The Washington Post reported that 14 of the company's top 50 advertisers no longer advertise their products and services on Twitter, including Jeep, Kellog, Mars and Verizon.
Twitter is now on the brink of facing a critical financial problem, especially because 90 percent of the company's revenue last year ($5 billion) depends on the advertising done by large companies on the platform.
Laying off thousands of employees may help the company in the short term, but in terms of continued earnings, it may soon become a serious problem.
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