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, 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 continues to run a facility in Bengaluru, a southern tech hotspot, that primarily employs engineers, according to the people, who declined to be named because the information is private.
To get Twitter financially solvent by the end of 2023, billionaire CEO Elon Musk has sacked employees and closed operations all across the world. Yet, India is seen as a significant growth market for US tech behemoths, from Meta Platforms Inc. to Google, which are placing long-term bets on the fastest-growing internet market in the world. According to Musk’s most recent actions, the market is currently of less importance to him. With its spirited political debate and 86.5 million followers of Prime Minister Narendra Modi, Twitter has developed over the past few years into one of India’s most significant public platforms. Nevertheless, Musk’s business only generates a little amount of revenue there, and it also has to deal with tough content laws and a growing number of skilled local competitors. 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.
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. The possibility of bankruptcy has also been openly discussed by Musk, who noted a “huge loss” in revenue as a result of advertisers’ exodus due to uncertainty over Twitter’s capacity to screen out objectionable content. Significant errors and outrages have also occurred using the platform, the most recent of which happened just this month.
