Business

Twilio announces 11% of employees will lose jobs in ‘Anti-Racist’ layoffs

Twilio CEO Jeff Lawson introduced in a message to all staff 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 staff that the layoffs are “smart and obligatory.”

“I’m not going to sugarcoat issues. A layoff is the very last thing we need to do, however I imagine it’s smart and obligatory. Twilio has grown at an astonishing price over the previous couple years. It was too quick, and with out sufficient give attention to our most necessary firm priorities. I take duty for these choices, in addition to the troublesome determination 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.

“As you all know, we’re dedicated to turning into an Anti-Racist/Anti-Oppression firm,” Lawson wrote. “Layoffs like this may have a extra pronounced influence on marginalized communities, so we have been notably centered on guaranteeing our layoffs – whereas a enterprise necessity as we speak – have been carried out by an Anti-Racist/Anti-Oppression lens.”

Those that have been laid-off will get “a minimum of” 12 weeks of pay, and a further week per yr of service on the firm. They may even obtain the complete worth of Twilio’s subsequent inventory vest.

“I’m deeply sorry to see you all depart Twilio. You will have all been a part of constructing our firm. You’ve been our teammates, companions, and buddies. I’m grateful to your contributions to our prospects and our enterprise. And we owe it to you to assist as a lot as we are able to,” Lawson wrote within the message.

Lawson wrote within the announcement that the firm is making the layoffs because it goals to be a worthwhile progress firm.

The corporate had 7,867 staff as of Dec. 31, 2021, based on its December annual report.

Up to now yr, Twilio shares have declined in worth by over 78%.

FOX Enterprise’ Lucas Manfredi contributed to this report.

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