New Delhi: Microblogging site Twitter has decided to discontinue engineering tasks in India, a move that will lead to lay offs at its development centre in Bengaluru. The company, however, did not disclose the number of people being handed pink slips.
Last year, Twitter had acquired Bengaluru-based mobile marketing and analytics company ZipDial Mobile Solutions, its first acquisition in India. The move paved the way for the US-based company to set up the engineering centre in Bengaluru.
Twitter had not disclosed financial details of the ZipDial deal, but reports suggested the monetary value was between $30-40 million (between Rs 185 crore-Rs 247 crore).
The company, which has been struggling to match the pace of growth with rivals like Facebook, had posted mixed
quarterly results and disappointing sales guidance. It said both its second-quarter performance and third-quarter outlook reflect “a continuation of the trends discussed last quarter with less overall advertiser demand than expected.”
