Twilio CEO Jeff Lawson called the layoffs “wise and necessary.”
Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its employees would be laid off, saying they made the layoffs through the lens of “anti-racism” and “fighting oppression.”
San FranciscoThe company’s CEO of corporate communications said in a message to employees that the layoffs are “reasonable and necessary.”
“I’m not going to sugarcoat things. Laying off is the last thing we want to do, but I think it is wise and necessary. Over the past couple of years, Twilio has grown at an astonishing rate. It was too fast and without enough focus on our company’s most important priorities. I take responsibility for these decisions, as well as the difficult decision to leave,” said Lawson.
In determining which roles would be affected by the layoffs, Lawson said company officials looked into which roles were most in line with its four priorities, but said the layoffs were held through an anti-racism lens.
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“As you all know, we are committed to being a company that stands up against racism and oppression,” Lawson wrote. “Layoffs like this can have a more visible impact on marginalized communities, which is why we have been particularly focused on ensuring that our layoffs – which are essential for businesses today – are delivered through the lens of combating racism and oppression.”
Those who have been laid off will receive a “minimum” of 12 weeks of pay and an additional week for each year they have been with the company. They will also receive the full value of the next vest of Twilio shares.
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“I am so sorry that you all are leaving Twilio. You all participated in the creation of our company. You have been our teammates, partners and friends. I am grateful for your contribution to our customers and our business. And we are obliged to help you in any way we can, ”Lawson wrote in a message.
Lawson wrote in the announcement that the company is pursuing layoffs as it seeks to become a profitable growth company.
According to the December annual report, as of December 31, 2021, the company had 7,867 employees.
Over the past year, Twilio shares have fallen in price by more than 78%.
Lucas Manfredi of FOX Business contributed to this report.
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