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Twilio To Layoff Another 17% Of Workforce

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Twilio is conducting a round of layoffs impacting around 17% of its global workforce.

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The company will restructure its internal organization and create two business units — Twilio Communications and Twilio Data & Applications.

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Twilio previously conducted a round of layoffs in September 2022, affecting 11% of its staff.

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Around 1,400 people will be impacted by this year's layoffs, based on Twilio's latest earnings release.

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The two new business units will have their own president, sales, R&D, and admin resources.

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The Communications side of the business appears to be particularly affected by the layoffs.

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Affected employees will receive 12 weeks of base pay plus one week for every year of service, as well as health coverage and career resources.

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Twilio is ending some employee benefits, such as book and wellness allowances and the Twilio Recharge program.

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Jeff Lawson's annual base salary will be lowered, and the company expects to spend $100 to $135 million in charges related to the workforce reduction.

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Twilio's shares are currently trading up 2.8% compared to Friday's closing price, and the company is going to announce its fourth-quarter earnings in a few days.

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