Twitter centre in Bengaluru shuts down, above 100 lose jobs
Bengaluru : Microblogging website Twitter has shut down their Bengaluru development centre, resulting in many employees losing their jobs.
While the company calls it a "routine business review", the move takes off majority of the 100-200 employees based out of Bengaluru.
The move comes after company failed to achieve its revenue targets for the quarter ended this June, straight eighth profit downfall.
Twitter these days is facing a stiff competition from other social giants like Facebook, one of the reason investors are not sure about company's future.
# Twitter shuts down its Bengaluru development unit to minimise profit losses.
# The company is likely to lay off 100-200 jobs post this move, says industry sources.
# “Engineering is a key part of our global company and we continue to focus our programs and efforts on improving the core product experience for our users worldwide,” said Twitter on Monday.
# “As part of our normal business review, we have decided to stop the global engineering work at the Bangalore (Bengaluru) development center.”
# “We thank the impacted individuals for their valuable contributions and are doing as much as we can to provide them a respectful exit from our company,” the company said.
# The decision resembles to what Yahoo India had done in 2014 by laying off nothing less than 600 jobs.