Unilever says it will pull digital advertising spending from Facebook and Twitter in the US until at least the end of this year, citing concerns about the proliferation of divisive content and hate speech on the platforms in the lead-up to the presidential election.

Coca-Cola also announced on Friday it was pausing all social media advertising globally for a month, with chief executive James Quincey saying in a statement that there was “no place for racism on social media” and that the company would use the time to review its advertising policies.

The decisions mark the latest blow to Facebook from big advertising clients, coming just a day after US telecoms group Verizon joined a growing boycott of the social media group. Other companies, including The North Face and the ad agency Goodby Silverstein said they were pausing advertising for July. Ben & Jerry’s ice cream, a Unilever brand, had also earlier joined the boycott.