New Delhi: Months after global mass lay-offs at Twitter, the micro-blogging platform helmed by CEO Elon Musk shut down its two offices in India on Friday.
The staff across various verticals have been told to work from home till further communication.
Though, any official announcement is yet to be made from Twitter or Elon Musk’s handle, Bloomberg reported about the closure of Twitter’s Delhi & Mumbai office. Twitter office in IT hub Bangaluru will however continue to operate as it mostly reports to the US bosses and don’t have much connection with Indian offices.
It may be noted that post-Twitter takeover by Elon Musk, the social media platform is on a job retrenchment spree. In India, it handed over pink slips to about 90 per cent of its staff working at different offices across the country. It also laid off more than 50% of its global workforce last year, as part of CEO’s ambition & vision to make the company profitable.
Twitter ‘overhaul’ under Elon Musk
After the Twitter takeover at $44 billion deal, billionaire Elon Musk introduced big shake-up & organizational changes including making its services payable and also sacking a big workforce across the globe. The mass lay-offs earned him many brickbats but the CEO ‘justified’ his decision citing company’s dipping revenues. Within weeks & months of takeover, Elon Musk laid off more than 50% of global workforce and is further pushing strong ‘austerity culture’ at its offices.
Musk has also spoken about his departure from company’s CEO role after bringing its revenue in green and restoring its financial health.
To augment company’s revenue & remove its dependence on advertisers, Musk started a paid & premium service at Twitter under which the users can subscribe by paying $8 per month.
Lately, the micro-blogging company has been facing financial crunch and has also defaulted on its rent at San Francisco & London offices. It also faced lawsuits from some contractors.
In November 2022, Musk said that the company was recording ‘massive dip’ in revenue as advertisers dropped out citing its inability to filter undesirable content.
Some assets of the firm including bird statues & espresso machines at many offices were also auctioned for raising money.
