Twitter started firing a maximum of their employees in India. The company is also considering buying back shares from investors. This move is part of the company’s efforts to cut down costs and reduce its debt.
The company said it will focus on “making Twitter a more efficient and sustainable business.”
The company has also said that it will be cutting jobs from its non-U.S. operations. It is currently hiring up to 200 people for its office in London, where the company’s headquarters are located.
Twitter had about 4,500 employees in India as of December 31, 2017. The employees were told about the layoffs on Wednesday morning and were asked to look for new jobs at other companies within 48 hours or until they find one elsewhere, according to a CNBC News report by Eunice Yoon, who attended a meeting with several senior Twitter executives at Twitter headquarters in San Francisco on Wednesday afternoon (local time).
Twitter has fired the majority of its employees in India, who are mostly engineers. The company made this decision based on low productivity and poor product quality.
According to a report published by The Economic Times, Twitter India has fired almost 90% of its employees. The company also plans to lay off more people in the coming days.
The report added that the number of employees already laid off is much higher than what was initially expected by Twitter India’s management. The company had earlier promised that it would not lay off any employees as part of its restructuring plan for the current financial year 2018-19.
The report further added that most of these layoffs have happened in the last few weeks, with some employees being terminated from their roles at the company’s offices in Mumbai and Delhi.”We are committed to India and we believe we can grow here,” said Vijaya Gadde, president of International Growth at Twitter Inc. “We’re making changes to head towards this goal more quickly, while still keeping our culture strong.”
Twitter is firing a majority of its employees in India
The company confirmed that it has fired most of its employees in India after the government asked them to relocate their office.
Since then, Twitter has been trying to relocate its offices with little success.
Last month, the company announced that they were closing down all operations in India except for research and development. This means that no more Twitter-related services will be available to users in the country.
Twitter fired the majority of its employees in India after the company was accused of stealing intellectual property.
Twitter confirmed this in a statement to TechCrunch: “We are committed to supporting our people and have made an adjustment to our employee compensation program.”
It’s not clear how many employees Twitter has in India, or how many will remain after this change.