Twilio on Monday announced plans to cut about 17% of its workforce, or about 1,500 jobs, based on a reported 8,992 employees as of September 30, 2022. Companies filing with the Securities and Exchange CommissionTwilio announces layoffs in blog post share on website.
The announcement comes after the cloud communications software maker has already laid off about 11% of its workforce as part of restructuring plans in September.
In an email to employees on Monday, CEO Jeff Lawson said the additional cuts were driven by the need to restructure Twilio to succeed. “These changes hurt,” he wrote. “The next few weeks will be spent processing all this change and working together to adjust to the new structure.”
Twilio shares were up more than 2% in Monday morning trading.
Lawson said Twilio is forming two business units to reduce the company’s expenses and increase efficiency. One unit, his Twilio Data & Applications, will be led by Elena Donio, and the second unit, Twilio Communications, will be led by Khozema Shipchandler. Lawson said that when executives looked at these two business units of his, it was clear the company had “got too big,” especially in communications.
Lawson said it’s clear Twilio needs to make “significant structural changes” to better execute its strategy.
“It’s hard to say goodbye to so many talented people, but two businesses need to be in the right shape to be successful.
Twilio is one of a dozen tech companies to announce job cuts in recent months. last week, Dell, zoom and Ebay announced a significant reduction in its workforce. In January, Google revealed plans to lay off more than 12,000 of his employees, Microsoft announced plans to cut 10,000 employees, and Salesforce plans to furlough 7,000 employees. announced.
