Twitter Inc. has closed two of its three India offices and directed employees to work from home. This demonstrates Elon Musks mission to cut costs and turn the struggling social media service profitable.Twitter, which fired more than 90 percent of its roughly 200-plus employees in India late last year, closed offices in New Delhi and Mumbai. According to the people who declined to be identified because the information is private, the company continues to operate an office in Bengalurus southern tech hub. This office primarily houses engineers.Billionaire CEO Elon Musk has fired employees and closed offices around the world in an effort to get Twitter financially stable by late 2023. Nonetheless, India is viewed as a key growth market for US tech behemoths ranging from Meta Platforms Inc. to Alphabet Inc.s Google, which are placing long-term bets on the worlds fastest-growing internet arena. Musks recent moves indicate that he is now placing less emphasis on the market.Elon Musk has also announced that he will step down as CEO and appoint a new leader by the end of 2023.Will step down as Twitter CEO, says Elon MuskElon musk has made a revelation that he will be finding a new CEO for Twitter by the end of 2023. During a video conference at the World Government Summit in Dubai, he said he must stabilize his social media platform first. “Im guessing probably towards the end of this year should be good timing to find someone else to run the company because I believe it should be in a stable position around the end of this year,” he said. He took over as Twitter CEO in October as part of his 44 billion US dollar acquisition of the social media company.Last year in the month of December, he indicated that he doesnt expect to be the CEO of Twitter permanently. He also indicated that eventually he will find someone to hold this position.In December, Musk asked Twitter users to vote on whether he should step down as CEO. The majority of the 17.5 million votes cast were in favour. After the polls, he tweeted and said that “I will step down as soon as I find someone foolish enough to take this job! After that I will just run the software and server teams.”Additionally, he stated that the last three months were extremely difficult for Twitter to save it from bankruptcy, while also fulfilling his responsibilities at Tesla and SpaceX. Musk added that the multi-blogging site continues to have challenges. Meanwhile, public support is greatly appreciated. The multi-billionaire also spoke about his motivations for the Twitter buyout, saying he was “a little worried about the direction and the effect of social media on the world, and especially Twitter.”Musk discussed the decision to acquire rather than build his own social media company. He said that “I considered starting from scratch, but I reasoned that doing so would likely speed up progress by three to five years,” Musk explained. “And I believe we are experiencing such rapid technological advancement that three to five years is actually quite valuable.” Musk discussed his motivations for the Twitter acquisition, saying he was “a little concerned about the direction and effect of social media on the world, particularly Twitter.”
