https://www.cnbc.com/2022/09/14/twilio-to-lay-of-11percent-of-workforce.html

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Tech

Twilio to lay off 11% of workforce

Published Wed, Sep 14 20229:53 AM EDTUpdated 2 Hours Ago
Ashley Capoot@ashleycapoot
WATCH LIVE
Key Points

  * Twilio will lay off 11% of its workforce as part of a major
    restructuring plan, according to a filing.
  * The plan will aim to improve operating margins, create a better
    selling capacity and reduce operating costs.

In this article

  * TWLO

Jeff Lawson, co-founder and chief executive officer of Twilio Inc.,
center, rings the opening bell on the floor of the New York Stock
Exchange in New York, Sept.17, 2018.
Michael Nagle | Bloomberg | Getty Images

Twilio will lay off 11% of its workforce as part of a major
restructuring plan, according to an SEC filing published Wednesday.

Twilio had 7,867 employees as of Dec. 31, 2021.

The cloud communications software builder has been striving for
profitability in 2023, and the restructuring aims to improve
operating margins, create a better selling capacity and reduce
operating costs.

We're headed towards profitability in 2023, says Twilio CEO
watch now
VIDEO3:2203:22
We're headed towards profitability in 2023, says Twilio CEO
TechCheck

In a letter to employees, Twilio CEO Jeff Lawson said the company
decided to lay off staff in order to run more efficiently and to
align the company's investments with its priorities. He said the
decision was "extremely difficult," but also "wise and necessary."

"Twilio has grown at an astonishing rate over the past couple years.
It was too fast, and without enough focus on our most important
company priorities," Lawson said in the letter. "I take
responsibility for those decisions, as well as the difficult decision
to do this layoff."

Lawson said the employees impacted are in areas of the company that
can operate more efficiently and where customers can "succeed without
as much human intervention."

Twilio said it expects to incur between $70 million and $90 million
in charges related to the restructuring plan.

Shares of Twilio closed up 10% on Wednesday.

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