A couple of days ago, Musk-led Twitter fired half its workforce, including about 200 employees in India. As per Musk himself, the reason behind the layoffs is that the microblogging platform is running on a loss of $4M daily, roughly equal to Rs. 32 crores. However, several reports suggest that the tech mogul has taken a loan of about $13 billion to acquire Twitter, and the interest exceeds $1 billion per year, which also explains why Twitter is so eager to roll out the new Blue subscription for $7.99 a month. Nevertheless, amidst the chaos, Union IT Minister of India, Ashwini Vaishnaw, has criticised Twitter's decision to fire its employees in India.
Union IT Minister condemns layoffs at Twitter
In a public statement, Vaishnaw said, "We condemn the way Twitter has sacked employees in India." As mentioned earlier, Twitter fired about 200 of its employees in India on the same day it laid off half its workforce through email. Additionally, Vaishnaw says that Twitter should have given the employees a "fair time to transition." By fair time to transition, Vaishnaw could be referring to the notice period employees are given if their company has to lay them off. However, per Musk, all those fired were given three months of severance.
Twitter India fired employees from several departments, including marketing, sales, content curation to corporate communications. They lost access to the company's official Slack channel and their official email address. While a few Indian employees still work for the company, they fear they could meet the same fate sooner or later. In a related development, Twitter has seen a massive drop in its total advertising revenue, which happens to be its primary source of income.
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