Twilio CEO announces 11% of employees will lose their jobs in ‘anti-racism’ layoffs

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Twilio CEO announces 11% of employees will lose their jobs in ‘anti-racism’ layoffs

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Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its workforce would be laid off, saying they made the layoffs with an “anti-racist” and “anti-bullying” lens.

The CEO of the San Francisco-based corporate communications company said in a message to employees that the layoffs were “wise and necessary”.

“I’m not going to sugarcoat things. Layoffs are the last thing we want to do, but I believe it is wise and necessary. Twilio has grown at an incredible rate over the past few years. It was too fast and not fast enough. Focus on our most important business priorities. I take responsibility for these decisions, as well as the difficult decision to proceed with these layoffs,” Lawson said.

To determine which roles would be affected by the layoffs, Lawson said company officials considered which roles were most aligned with its four priorities, but said the layoffs were made with an anti-racism lens.

TWILIO reduces its workforce by 11% as part of a restructuring

In this photo illustration an American cloud communications platform Twilio logo seen displayed on a smartphone and PC screen. (Photo illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images/Getty Images)

“As you all know, we are committed to being an anti-racism/anti-oppression company,” Lawson wrote. “These layoffs may have a more pronounced impact on marginalized communities, which is why we take special care to ensure that our layoffs – when necessary for the business – are conducted with an anti-racism/anti-oppression lens. .”

Those made redundant will receive “at least” 12 weeks of salary and an additional week of service per year in the company. They will also receive the full value of Twilio’s next stock vest.

Small businesses in the face of inflation

In this photo illustration, the Twilio logo appears against the background of a silhouette of a woman holding a cellphone. (Photo illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images/Getty Images)

“I am deeply sorry to see you all leave Twilio. You were all part of building our business. You were our teammate, partner and friend. I appreciate your contribution to our customers and our business. need to help as much as we can,” Lawson wrote in the post.

Lawson wrote in the announcement that the company is making layoffs as it aims to become a profitable growth company.

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The Twilio website on a laptop laid out in Hastings in Hudson, New York, U.S., on Monday, Feb. 7, 2022. (Tiffany Hagler-Geard/Bloomberg via Getty Images/Getty Images)

According to the company’s December annual report, there were 7,867 employees as of December 31, 2021.

Over the past year, Twilio’s stock price has fallen over 78%.

Fox Business’ Lucas Manfredi contributed to this report.

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