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Twitter to shut down Bengaluru development centre


Amidst increasing scrutiny from investors because of falling revenue growth, micro-blogging platform Twitter has shut its Bengaluru development centre.
•    While the company has termed this a “normal business review”, the move translates into laying off of a majority of the 100-120 employees based out of Bengaluru, according to industry sources.
•    The move comes after Twitter missed revenue estimates for the quarter ended June because of lesser than expected advertiser demand, while revenue growth fell for the eighth straight quarter.
•    It has also issued a weak revenue forecast for the third quarter. 
•    Globally, the company is facing stiff competition from larger competitors like Facebook.
•    The decision is similar to that of Yahoo! India’s, which laid off about 600 employees from its research and development centre in Bengaluru, in 2014.
•    For most big firms such as Apple, Google, Microsoft, SAP and Oracle, the core development happens in Silicon valley.
 

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