Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its workforce could be laid off, stating that they made the layoffs through an “Anti-Racist” and “Anti-Oppression” lens.
The San Francisco-based corporate communications company CEO said within the message to employees that the layoffs are “sensible and needed.”
“I’m not going to sugarcoat things. A layoff is the very last thing we would like to do, but I think it’s sensible and needed. Twilio has grown at an astonishing rate over the past couple years. It was too fast, and without enough give attention to our most significant company priorities. I take responsibility for those decisions, in addition to the difficult decision to do that layoff,” Lawson said.
In determining which roles could be impacted within the layoffs, Lawson said that company officials examined which roles were most aligned with its 4 priorities, but said that the layoffs were carried out through an anti-racism lens.
“As you all know, we’re committed to becoming an Anti-Racist/Anti-Oppression company,” Lawson wrote. “Layoffs like this will have a more pronounced impact on marginalized communities, so we were particularly focused on ensuring our layoffs – while a business necessity today – were carried out through an Anti-Racist/Anti-Oppression lens.”
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Those that were laid-off will get “not less than” 12 weeks of pay, and a further week per yr of service at the corporate. They may even receive the complete value of Twilio’s next stock vest.
“I’m deeply sorry to see you all leave Twilio. You’ve gotten all been a part of constructing our company. You’ve been our teammates, partners, and friends. I’m grateful on your contributions to our customers and our business. And we owe it to you to assist as much as we will,” Lawson wrote within the message.
Lawson wrote within the announcement that the company is making the layoffs because it goals to be a profitable growth company.
The corporate had 7,867 employees as of Dec. 31, 2021, in accordance with its December annual report.
Prior to now yr, Twilio shares have declined in value by over 78%.
FOX Business’ Lucas Manfredi contributed to this report.