Twilio to lay off 11% of workforce

Twilio volition laic disconnected 11% of its workforce arsenic portion of a large restructuring plan, according to an SEC filing published connected Wednesday.

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

The unreality communications bundle builder has been striving for profitability successful 2023, and the restructuring program aims to amended operating margins, make a amended selling capableness and trim operating costs.

In a letter to employees, Twilio CEO Jeff Lawson said the institution decided to laic disconnected unit successful bid to tally much efficiently and to align the company's investments with its priorities. He said the determination was "extremely difficult," but besides "wise and necessary."

"Twilio has grown astatine an astonishing complaint implicit the past mates years. It was excessively fast, and without capable absorption connected our astir important institution priorities," Lawson said successful the letter. "I instrumentality work for those decisions, arsenic good arsenic the hard determination to bash this layoff."

Lawson said the employees impacted are successful areas of the institution that tin run much efficiently and wherever customers tin "succeed without arsenic overmuch quality intervention."

Twilio said it expects to incur betwixt $70 cardinal and $90 cardinal successful charges related to the restructuing plan.

Shares of Twilio were up astir 1% connected Wednesday morning.