In an effort to cut costs following Elon Musk’s chaotic $44 billion acquisition of Twitter, the social media company has stopped paying rent, according to a report from The New York Times.
Twitter has not paid rent for its global offices or San Francisco headquarters in weeks, the report said, as Musk’s team has been trying to renegotiate the terms of the company’s lease. As a result, Twitter has received complaints from real estate firms like Shorenstein, which owns Twitter’s San Francisco buildings.
Representatives for Shorenstein and Musk did not immediately respond to requests for comment. Twitter no longer has a communications department.
Musk said Twitter suffered a “massive drop in revenue” in the days following his $44 billion acquisition of the company. Without providing any figures or evidence, he claimed in a tweet that the revenue drop was the result of activist groups putting pressure on advertisers.
Though many companies did pause advertising on Twitter, some major advertising giants like Apple and Amazon have resumed spending on the platform.
Musk has also revamped Twitter’s subscription service, Twitter Blue, with the hope of generating fresh revenue for the company. The service launched Monday after Musk pulled and delayed the launch in November.
