Elon Musk cites ‘massive drop’ in revenue as Twitter cuts staff

Online safety groups and campaigners have expressed concerns about Mr Musk’s plans to allow more free speech on the site and reverse permanent bans given to controversial figures – including former US president Donald Trump.

Elon Musk is thought to want to drastically reduce costs at Twitter (Susan Walsh/AP/PA)

Elon Musk has accused “activist groups” of “pressuring” advertisers into leaving the social media giant and causing a drop in revenue, as the company carries out sweeping job cuts to save money.

The billionaire tweeted that the groups were trying to “destroy free speech” by raising concerns around his plans to loosen content moderation rules on the site.