Twilio to cut about 5% of total workforce
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CLOUD communications platform Twilio said on Monday (Dec 4) it will lay off about 5 per cent, or 295, of its total workforce by the first quarter of 2024 to achieve profitable growth.
The company expects to incur about US$25 million to US$35 million associated with the restructuring in the last three months of 2023.
Tech companies have begun reducing their workforce again after a round of layoffs in the beginning of the year, with announcements coming from Spotify to Microsoft-owned LinkedIn.
Earlier this year, Twilio cut 17 per cent of its staff and closed some of its offices.
The San Francisco-based cloud service provider also reaffirmed its guidance for the fourth quarter and fiscal year ending Dec 31, 2023. REUTERS
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