Twilio to Cut 11% of Staff After Growing ‘Too Fast’
- Shares of software company down 73% this year in market rout
- Company focusing on profitability after pandemic growth
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Twilio Inc., a maker of customer communication and marketing software, said it will cut about 11% of jobs and restructure the company in a push for profitability after a period of rapid expansion.
Sales strategy, research, and administrative staff will be most affected by the workforce reductions, Chief Executive Officer Jeff Lawson wrote in a letter to employees Wednesday. The shares rose 0.5% in New York.