Rep. Dean Phillips, D-Minnesota, announced significant cuts within his 2024 presidential campaign team on social media Friday.

Phillips attributed his decision to financial constraints, but said he remains committed to running for president despite the setback and is determined to persevere in the race.

“Unfortunately today we had to announce layoffs to a number of our staff,” Phillips said. Said.

“We went to New Hampshire on October 27th. We had no name recognition, polled zero, but 10 weeks later in the New Hampshire primary in late January, we had 20% support. ” Phillips said in a statement.

“It's really hard. It's hard to raise money. It's hard to generate a platform to present yourself. And it's hard when your party is working against you,” said the presidential candidate. continued. “I've tried making phone calls and doing fundraisers and all the things you have to do to run for office. But I've tried to raise enough money to run this campaign the way I want it to. It turns out that it's almost impossible.”

I love running for president, but today I had to make some difficult decisions.

But 75% of Americans say Trump is too corrupt and Biden is too old, so I won't give up!

If you're ready for change, join us! https://t.co/L4Hf3zEZKv! pic.twitter.com/mQleNnh2vs

— Dean Phillips (@deanbphillips) February 16, 2024

Despite recent job cuts, Phillips' message to supporters was one of resilience. “I'm going to continue on this journey for as long as you want this journey to continue,” Phillips said. “I'm not giving up, I'm going to keep going. I'm on the ballot in 43 states. Our country is crying out for change. If you still believe we can do better, Please consider supporting our campaign.” (Related: Former Democratic presidential candidate slams Biden for claiming to protect democracy while “suppressing” party primaries)

Phillips highlighted pressing issues such as the national debt, military spending and tax burden, CBS News report. But Phillips faced challenges from the start, losing the Democratic primaries in New Hampshire and South Carolina and sitting out the vote in Nevada. Nevertheless, he described his campaign journey as “fun.”

The move comes after Marianne Williamson, another Democratic candidate and considered a big winner, suspended her campaign on February 7, according to CBS News.