Elon Musk shuts Delhi, Mumbai Twitter offices, sends staff home. Details here

Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in New Delhi and Mumbai, people aware of the matter said

Bloomberg
Updated17 Feb 2023
FILE - A sign at Twitter headquarters is shown in San Francisco, Dec. 8, 2022. New research shows climate misinformation has been flourishing on Twitter since Elon Musk purchased the platform last year. (AP Photo/Jeff Chiu, File)
FILE - A sign at Twitter headquarters is shown in San Francisco, Dec. 8, 2022. New research shows climate misinformation has been flourishing on Twitter since Elon Musk purchased the platform last year. (AP Photo/Jeff Chiu, File)(AP)

Twitter Inc. has shut two of its three India offices and told its staff to work from home, underscoring Elon Musk’s mission to slash costs and get the struggling social media service in the black.

Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political center New Delhi and financial hub of Mumbai, people aware of the matter said. The company continues to operate an office in the southern tech hub of Bengaluru that mostly houses engineers, the people said, declining to be identified as the information is private. 

Billionaire Chief Executive Officer Elon Musk has fired staff and shut offices around the world as part of an effort to get Twitter financially stable by late 2023. Yet India is regarded as a key growth market for US tech giants from Meta Platforms Inc. to Alphabet Inc.’s Google, which are making long-term bets on the world’s fastest-growing internet arena. Musk’s latest moves suggests he’s attaching less importance to the market for now.

Twitter has evolved in past years into one of India’s most important public forums, home to heated political discourse and Prime Minister Narendra Modi’s 86.5 million followers. Yet revenue there isn’t significant for Musk’s company, which also has to contend with strict content regulations and increasingly savvy local competition.

Twitter did not immediately respond to a request for comment.

An exodus of workers — many of whom were fired — since Musk’s acquisition has raised concerns about whether Twitter can sustain its operations and regulate content. Musk this week said he may need till the end of the year to stabilize the company and make sure it’s financially healthy.

Since the $44 billion buyout, Twitter has failed to pay millions of dollars in rent for its San Francisco headquarters and London offices, been sued by multiple contractors over unpaid services, and auctioned off everything from bird statues to espresso machines to raise money. 

Musk has also openly floated the idea of bankruptcy, and cited a “massive drop” in revenue as advertisers fled over concerns about Twitter’s ability to weed out undesirable content. The platform has also experienced significant glitches and outrages, most recently just this month.

 

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
HomeNewsIndiaElon Musk shuts Delhi, Mumbai Twitter offices, sends staff home. Details here

Most Active Stocks

Bharat Electronics

309.55
10:29 AM | 14 JUN 2024
8.6 (2.86%)

Indian Oil Corporation

170.30
10:25 AM | 14 JUN 2024
1.2 (0.71%)

HDFC Bank

1,597.45
10:28 AM | 14 JUN 2024
16.55 (1.05%)

State Bank Of India

840.20
10:29 AM | 14 JUN 2024
-3.7 (-0.44%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

JK Paper

490.70
10:25 AM | 14 JUN 2024
44.35 (9.94%)

KRBL

310.05
10:22 AM | 14 JUN 2024
23.05 (8.03%)

Poly Medicure

2,003.00
09:59 AM | 14 JUN 2024
142.9 (7.68%)

KEC International

935.20
10:25 AM | 14 JUN 2024
66.25 (7.62%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    73,303.00-503.00
    Chennai
    73,663.00-143.00
    Delhi
    74,166.00431.00
    Kolkata
    73,016.00-72.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L3.02
    Chennai
    100.75/L0.00
    Kolkata
    103.94/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanGet App