Twilio, a communications software provider, announced Monday that it was cutting off 17% of its workforce, or roughly 1,500 people.
This is the most recent example of a tech company reducing its workforce.
The reductions came after the corporation let go of around 11% of its workforce in September.
According to CEO Jeff Lawson, the restructuring is taking place because “we have to spend less, streamline, and become more effective.”
According to Lawson, Twilio Data & Applications and Twilio Communications will be split into two separate business groups because they “are at distinct lifecycle stages and have different operating demands.”
According to Lawson, employees who were laid off in the United States would receive severance compensation, ongoing health benefits, “the full value of Twilio’s February 15 vest,” and other short-term benefit extensions.
There are many different employment rules in other countries, and we’ll take special care to help these Twilions, and their managers navigate these procedures, like needed consultation times, he continued.
As the company transitioned to more remote work, Lawson also disclosed that the company was discontinuing various perks and benefits programs for the remaining employees and closing some of the company’s offices.
He said, “These changes hurt. The upcoming weeks will be spent adjusting to our new organization and processing this change.