Twilio Announces Layoffs Amid Restructuring Efforts
Tech company Twilio will lay off 11% of its workforce, an estimated 800 to 900 people.
The company on Monday posted a Securities and Exchange Commission filing as part of a restructuring plan, while shifting to more remote and hybrid work.
“We’ve made the extremely difficult decision to restructure and reduce Twilio’s workforce by approximately 11% — teammates and friends who helped build Twilio,” Twilio CEO Jeff Lawson said on the company’s blog.
Tech Crunch first reported news of the company’s restructuring.
“I'm not going to sugarcoat things. A layoff is the last thing we want to do, but I believe it's wise and necessary," the blog post said. "Twilio has grown at an astonishing rate over the past couple years. It was too fast, and without enough focus on our most important company priorities. I take responsibility for those decisions, as well as the difficult decision to do this layoff.”
Twilio downsized its office footprint earlier this year in San Francisco’s Financial District, dipping down its occupancy from five floors to two in the Hudson Pacific Properties-owned building, as reported by the San Francisco Business Times in June.
Meanwhile, layoffs across San Francisco’s tech industry have mounted during 2022. Twitter, PayPal, Coinbase and several other companies have announced layoffs this year, amid ever-growing office vacancy in the city’s office market.