Elon Musk’s mission to reduce expenses and turn the faltering social media site into a profit is highlighted by Twitter Inc.’s decision to close two of its three locations in India and order its workers to work from home.
- According to persons with knowledge of the situation,
- Elon Musk, a billionaire CEO, has sacked employees and closed offices all around the world in an effort to stabilise Twitter’s finances by the end of 2023.
- which are placing long-term investments on the fastest-growing internet market in the world, India is seen as a key growth area.
According to persons with knowledge of the situation,
Twitter closed its operations in the financial powerhouse of Mumbai and the political capital of New Delhi after terminating more than 90% of its 200+ employees in India.
The company still maintains a location in Bengaluru, a southern IT hotspot, where it primarily employs engineers, according to the sources, who declined to be named because the information is confidential.
Elon Musk, a billionaire CEO, has sacked employees and closed offices all around the world in an effort to stabilise Twitter’s finances by the end of 2023.
But for US software behemoths like Meta Platforms Inc. and Google,
which are placing long-term investments on the fastest-growing internet market in the world, India is seen as a key growth area.
According to Musk’s most recent actions, the market is less important to him right now.
In recent years, Twitter has developed into one of India’s most significant public platforms,
including acrimonious political debates and the 86.5 million followers of Prime Minister Narendra Modi.
Nevertheless, Musk’s company doesn’t make much money there, and it also has to deal with
stringent content laws and a cutthroat local rivalry.
A request for comment from Twitter did not immediately receive a response.
After Musk’s takeover, there has been a mass departure of employees, many of whom were fired,
raising questions about Twitter’s ability to continue operating and control content.
This week, Musk stated that it might take him till the end of the year to stabilise the business and
ensure its financial soundness.
Following the $44 billion acquisition, Twitter has been sued by numerous contractors for unpaid services,
has not paid millions of dollars in rent for its San Francisco headquarters and London locations, and
has auctioned off everything from bird statues to espresso makers to earn money.
Musk has also publicly discussed going bankrupt, citing a “huge loss” in revenue as a result of sponsors
leaving because of uncertainty about Twitter’s capacity to screen out objectionable content.
Significant bugs and outrages have also occurred on the platform, most notably earlier last month.
