Twilio CEO Jeff Lawson introduced in a message to all workers that 11% of its workforce could be laid off, stating that they made the layoffs by an “Anti-Racist” and “Anti-Oppression” lens.
The San Francisco-based company communications firm CEO mentioned within the message to workers that the layoffs are “clever and vital.”
“I am not going to sugarcoat issues. A layoff is the very last thing we wish to do, however I imagine it is clever and vital. Twilio has grown at an astonishing fee over the previous couple years. It was too quick, and with out sufficient give attention to our most essential firm priorities. I take duty for these selections, in addition to the tough resolution to do that layoff,” Lawson mentioned.
In figuring out which roles could be impacted within the layoffs, Lawson mentioned that firm officers examined which roles have been most aligned with its 4 priorities, however mentioned that the layoffs have been carried out by an anti-racism lens.
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“As you all know, we’re dedicated to changing into an Anti-Racist/Anti-Oppression firm,” Lawson wrote. “Layoffs like this will have a extra pronounced affect on marginalized communities, so we have been notably targeted on making certain our layoffs – whereas a enterprise necessity at present – have been carried out by an Anti-Racist/Anti-Oppression lens.”
Those that have been laid-off will get “at the very least” 12 weeks of pay, and an extra week per yr of service on the firm. They will even obtain the total worth of Twilio’s subsequent inventory vest.
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“I’m deeply sorry to see you all depart Twilio. You’ve 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 corporate is making the layoffs because it goals to be a worthwhile development firm.
The corporate had 7,867 workers as of Dec. 31, 2021, in keeping with its December annual report.
Prior to now yr, Twilio shares have declined in worth by over 78%.
FOX Enterprise’ Lucas Manfredi contributed to this report.