Twilio CEO Jeff Lawson introduced in a message to all staff that 11% of its workforce can be laid off, stating that they made the layoffs via an “Anti-Racist” and “Anti-Oppression” lens.
The San Francisco-based corporate communications company CEO stated within the message to staff that the layoffs are “smart and obligatory.”
“I’m not going to sugarcoat issues. A layoff is the very last thing we wish to do, however I imagine it’s smart and obligatory. Twilio has grown at an astonishing price over the previous couple years. It was too quick, and with out sufficient concentrate on our most essential firm priorities. I take accountability for these selections, in addition to the tough choice to do that layoff,” Lawson stated.
In figuring out which roles can be impacted within the layoffs, Lawson stated that company officials examined which roles had been most aligned with its 4 priorities, however stated that the layoffs had been carried out via an anti-racism lens.
“As you all know, we’re dedicated to changing into an Anti-Racist/Anti-Oppression firm,” Lawson wrote. “Layoffs like this could have a extra pronounced influence on marginalized communities, so we had been notably centered on guaranteeing our layoffs – whereas a enterprise necessity as we speak – had been carried out via an Anti-Racist/Anti-Oppression lens.”
Those that had been laid-off will get “no less than” 12 weeks of pay, and an extra week per 12 months of service on the firm. They may also obtain the total worth of Twilio’s next stock vest.
“I’m deeply sorry to see you all depart Twilio. You have got all been a part of constructing our firm. You’ve been our teammates, companions, and mates. I’m grateful in your contributions to our clients and our enterprise. And we owe it to you to assist as a lot as we will,” Lawson wrote within the message.
Lawson wrote within the announcement that the firm is making the layoffs because it goals to be a worthwhile progress firm.
The corporate had 7,867 staff as of Dec. 31, 2021, in response to its December annual report.
Previously 12 months, Twilio shares have declined in worth by over 78%.
FOX Enterprise’ Lucas Manfredi contributed to this report.