Business
Twitter Shuts Two Out Of Three Centres In India: Mere Cost-Cutting Or Something Else?
Twitter (Representative Image)
Twitter has closed two out of its three offices in India and instructed its employees to work from home, in line with CEO Elon Musk's objective of reducing costs and restoring the ailing social media platform to profitability.
The company, which had laid off over 90 per cent of its staff in India towards the end of 2022, shuttered its offices in Mumbai and New Delhi, while maintaining an office in Bengaluru primarily for engineers, Bloomberg reported citing people familar with the matter.
Musk's strategy of eliminating staff and offices globally is aimed at achieving financial stability for Twitter by the end of 2023.
While India is an important market for US tech giants such as Meta Platforms and Alphabet's Google, which are investing in the rapidly growing internet sector in the country, Musk's recent actions suggest that India is not a top priority for Twitter at present.
Despite being a vital public forum in India for political discussions and boasting Prime Minister Narendra Modi's 86.5 million followers, Twitter's revenue in the country is not significant.
The company also faces stiff competition from local players and has to comply with strict content regulations.
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