It may feel like a lifetime, but it’s only been one week since Elon Musk became Twitter’s owner.
Musk has already announced planned changes to Twitter’s verification system, and began mass layoffs on Friday. Musk also promised to loosen rules about what kind of speech is allowed, prompting concerns that marginalized groups would become more vulnerable on Twitter.
Unsure of the direction the social media platform is headed, brands have started pausing ad spending on Twitter.
Here are some of the first brands to pause spending on Twitter. (This story will be updated with new information.)
“We have currently paused paid support on Twitter and will continue to evaluate the situation,” company spokesperson Whaewon Choi-Wiles said on Thursday.
“We have paused advertising on Twitter,” Kelsey Roemhildt, a spokesperson for General Mills, told CNN in a statement. “As always, we will continue to monitor this new direction and evaluate our marketing spend.”
“We are engaging with Twitter to understand the direction of the platform under their new ownership. As is normal course of business with a significant change in a media platform, we have temporarily paused our paid advertising. Our customer care interactions on Twitter will continue,” the company said in an emailed statement to CNBC.
Ad giant Interpublic Group recommended that clients of its IPG Media Brands agencies suspend all paid advertising on Twitter for at least a week.
The Wall Street Journal also reported that Oreo-maker Mondelez International has paused advertising on Twitter.
Pharmaceutical giant Pfizer has also suspended advertising on Twitter, The Wall Street Journal reported.
"We are closely monitoring the situation and will decide about next steps depending on its evolvement," Volkeswagen said, according to Reuters.