Twitter India Offices Closed: Twitter Inc. has closed two of its three India offices and directed employees to work from home, highlighting Elon Musk's mission to cut costs and turn the struggling social media service profitable.
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Twitter, which fired more than 90% of its roughly 200-plus employees in India late last year, closed offices in New Delhi and Mumbai, according to people familiar with the situation. The company still operates an office in Bengaluru's southern tech hub that primarily houses engineers.
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Billionaire CEO Elon Musk has fired employees and closed offices worldwide to make Twitter financially stable by late 2023. Nonetheless, India is viewed as a critical growth market for US tech behemoths ranging from Meta Platforms Inc. to Alphabet Inc.'s Google, which are placing long-term bets on the world's fastest-growing internet arena.
Since Musk's acquisition, there has been a mass exodus of employees, many of whom have been fired, raising concerns about Twitter's ability to continue operations and regulate content. Musk recently stated that he may stabilize the company until the end of the year and ensure its financial health.
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Since the $44 billion acquisition, Twitter has failed to pay millions of dollars in rent for its San Francisco headquarters and London offices and has been sued by multiple contractors for unpaid services.
Musk has also openly discussed bankruptcy, citing a "massive drop" in revenue as advertisers fled due to concerns about Twitter's ability to weed out unwanted content. The platform has also been plagued by significant glitches and outrages, the most recent of which occurred just this month.
