About 1,500 employees, or 17% of its workforce, will be let go by Twilio.

 Twilio • Layoff • Jeff Lawson • NYSE:TWLO • Cloud computing 

About 1,500 employees, or 17% of its workforce, will be let go by Twilio.

Keapoints:-

• Twilio on Monday announced plans to cut about 1,500 employees, or around 17% of its workforce, according to a blog post shared on the company’s website.
• The announcement came after the company already laid off around 11% of its workforce as part of a restructuring plan in September.
• Twilio had 8,992 employees as of September 2022, according to a company filing with the SEC.

According to the 8,992 workers reported as of September 30, 2022, Twilio expects to eliminate around 1,500 positions, or about 17% of its workforce. This announcement was made in a filing with the Securities and Exchange Commission. In a blog post that was published on its website, Twilio announced the layoffs.

After laying off close to 11% of its personnel as part of a reorganisation plan in September, the manufacturer of cloud communications software made the news.

The extra layoffs were necessary to restructure Twilio in order for it to prosper, CEO Jeff Lawson said in a Monday email to staff. These modifications "hurt," he wrote. The upcoming weeks will be spent integrating all of this change and cooperating to get used to our new organisational structure.

The price of Twilio shares increased by more than 2% in early Monday trade.

According to Lawson, Twilio is creating two business divisions to save costs and boost productivity. Elena Donio will be in charge of Twilio Data & Applications, while Khozema Shipchandler will oversee Twilio Communications. When management examined these two business segments, it was evident, according to Lawson, that the corporation had grown "too huge," particularly in communications.

Twilio clearly needs to make "major structural adjustments," according to Lawson, in order to successfully carry out its goal.

To get our two firms in the best possible position for success, he remarked, "it is terrible to part ways with so many bright individuals.

More than a dozen internet businesses, including Twilio, have recently announced layoffs. Significant staff reductions were announced by Dell, Zoom, and eBay last week. In January, Google announced intentions to fire more than 12,000 staff, Microsoft said it would lay off 10,000 people, and Salesforce indicated it would fire 7,000 employees.