Elon Musk closed the offices of Twitter in Mumbai and New Delhi, leaving just three employees in the country. The employees have been told to leave and work remotely. This comes after Musk’s extensive layoffs from the previous year.
The leader of the country and the leaders of the northern, eastern, southern, and western regions make up the last three members of the Indian Twitter staff. They have acknowledged that they will now be expected to work remotely.
Just the Bengaluru office is still operational because two of the three branches have been closed, according to sources.
The majority of the engineers working in the southern tech hub’s Bangalore headquarters are technically not Indian employees because they report directly to American team members. Notably, Twitter is cutting offices not just in India but also in a number of other countries.
Despite being a millionaire, CEO Elon Musk has fired employees and closed branches all over the world, hinting that he may have been momentarily ignoring the Indian market up until now.
The Financial Crisis at Twitter and How It’s Being Managed
After assuming his new position of power in the second half of 2022, Elon Musk fired more than 90% of Twitter’s Indian staff. The team at the time had more than 200 people, however many were let go to save money. An extension of this major layoff is the closing of offices in Mumbai and Delhi.
The $44 billion acquisition of Twitter by billionaire Musk in October 2022 brought about a number of organizational and product changes, including the introduction of a fee for the Twitter-verified Blue check-mark service. After a few weeks after his arrival, he also let go of half of the 7,500 employees.
Twitter is having trouble running the business and controlling content due to a reduction in the workforce. Elon Musk has stated that he will be able to control the company’s financial stability and maintain its smooth operation by the end of 2023.
He now suggests that bankruptcy is imminent due to sharply declining income. Due to Twitter’s inability to effectively filter out harmful information, advertisers are refusing to cooperate with it, which has resulted in this. Twitter has also seen a number of bugs and controversies, with the most recent one occurring earlier in February.
At a staff meeting, a top advertising official reported that the social media platform’s fourth-quarter revenue fell by almost 35% to $1.025 billion. Many contractors have filed lawsuits against Twitter for unpaid services, and the company has been trying to raise money by bidding on items like bird statues and espresso machines.
It has also failed to pay rent for its San Francisco headquarters and London offices totaling millions of dollars.
What does the Future Hold for India and Twitter?
Twitter’s office in India is still operational, but it appears that the company continues to struggle with issues related to staff retention, financial stability, and content regulation.
Uncertainty surrounds Twitter’s ability to endure in the very competitive Indian market and if it will be able to get over its current problems as Musk works to stabilize the firm.
However, other rumours claim that Musk may leave his position as 2023 draws to a close. During the Global Government Conference in Dubai, he announced his resignation as CEO of Twitter. Musk said that in order to “stabilize the company and basically make sure that it’s in a financially sound place, and the product roadmap is clearly spelled out,” he first had to “stabilize the organization.” In response to a question about when, he also said, “I don’t know, (but) I’m assuming maybe near the end of this year (for the new CEO).”
Despite all of this, India still looks to have a lot of promise for American software companies like Meta Platforms Inc. and Google, which are making long-term investments in the fastest-growing internet market in the world.