- Twitter Inc shut two of its three India offices and told its staff to work from home.
- Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political center of New Delhi and the financial hub of Mumbai, Bloomberg reports.
- The move reflected Elon Musk’s mission to slash costs.
- Also Read: Elon Musk Conceived Twitter HQ Bedrooms Draw Regulatory Scrutiny
- It also suggested less importance to the market for now, given insignificant revenue, strict content regulations, and increasingly savvy local competition.
- Twitter operates an office in the southern tech hub of Bengaluru that mostly houses engineers.
- CEO Musk has fired staff and shut offices worldwide to get Twitter financially stable by late 2023. Yet U.S. tech giants from Meta Platforms Inc (NASDAQ:META) to Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google eye India as a critical growth market.
- Since the $44 billion buyout, Twitter failed to pay millions in rent for its San Francisco headquarters and London offices and auctioned off everything from bird statues to espresso machines to raise money.
- Musk has also fancied the idea of bankruptcy.
- Twitter also experienced significant glitches and outrages, most recently just this month.
- Photo by Daniel Oberhaus on Flickr
- This news was earlier reported on Benzinga’s new India portal
Bitcoin Bonds Coming Soon? El Salvador Marks Another Crypto First With Historic Law
The El Salvador Legislative Assembly has unanimously approved a law regulating the issuance of digital assets, opening up the possibility of issuing government-backed Bitcoin (CRYPTO: BTC) bonds.
