In a move that will lead to many people losing their jobs, social networking site Twitter, has decided to discontinue its engineering tasks in India.
According to a report in PTI:
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."
Responding to the news agency in an emailed statement, Twitter said: "As part of our normal business review, we have decided to stop the global engineering work at the Bengaluru development centre. 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."
"Today, India is one of our fastest growing markets worldwide and we continue to invest in key initiatives to further expand our audience, increase user engagement and drive revenue in this important market," PTI quotes the statement as adding.