New Delhi: Months after international mass lay-offs at Twitter, the micro-blogging platform helmed by CEO Elon Musk shut down its two workplaces in India on Friday.
The workers throughout numerous verticals have been instructed to earn a living from home until additional communication.
Although, any official announcement is but to be created from Twitter or Elon Musk’s deal with, Bloomberg reported concerning the closure of Twitter’s Delhi & Mumbai workplace. Twitter workplace in IT hub Bangaluru will nonetheless proceed to function because it largely experiences to the US bosses and don’t have a lot reference to Indian workplaces.
It might be famous 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 workers working at totally different workplaces throughout the nation. It additionally laid off greater than 50% of its international workforce final 12 months, as a part of CEO’s ambition & imaginative and prescient to make the corporate worthwhile.
Twitter ‘overhaul’ underneath Elon Musk
After the Twitter takeover at $44 billion deal, billionaire Elon Musk launched large shake-up & organizational adjustments together with making its companies payable and in addition sacking a giant workforce throughout the globe. The mass lay-offs earned him many brickbats however the CEO ‘justified’ his choice citing firm’s dipping revenues. Inside weeks & months of takeover, Elon Musk laid off greater than 50% of worldwide workforce and is additional pushing sturdy ‘austerity tradition’ at its workplaces.
Musk has additionally spoken about his departure from firm’s CEO position after bringing its income in inexperienced and restoring its monetary well being.
To enhance firm’s income & take away its dependence on advertisers, Musk began a paid & premium service at Twitter underneath which the customers can subscribe by paying $8 per thirty days.
Currently, the micro-blogging firm has been going through monetary crunch and has additionally defaulted on its hire at San Francisco & London workplaces. It additionally confronted lawsuits from some contractors.
In November 2022, Musk stated that the corporate was recording ‘large dip’ in income as advertisers dropped out citing its incapacity to filter undesirable content material.
Some belongings of the agency together with hen statues & espresso machines at many workplaces have been additionally auctioned for elevating cash.