Twilio CEO announces 11% of employees will lose jobs in 'Anti-Racist' focused layoffs
Twilio CEO Jeff Lawson said the layoffs were 'wise and necessary'
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Twilio CEO Jeff Lawson announced in a message to all employees that 11% of its workforce would be laid off, stating that they made the layoffs through an "Anti-Racist" and "Anti-Oppression" lens.
The San Francisco-based corporate communications company CEO said in the message to employees that the layoffs are "wise and necessary."
"I'm not going to sugarcoat things. A layoff is the last thing we want to do, but I believe it's wise and necessary. Twilio has grown at an astonishing rate over the past couple years. It was too fast, and without enough focus on our most important company priorities. I take responsibility for those decisions, as well as the difficult decision to do this layoff," Lawson said.
In determining which roles would be impacted in the layoffs, Lawson said that company officials examined which roles were most aligned with its four priorities, but said that the layoffs were carried out through an anti-racism lens.
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In this photo illustration a Twilio logo of an US cloud communications platform is seen on a smartphone and a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images / Getty Images)
"As you all know, we are committed to becoming an Anti-Racist/Anti-Oppression company," Lawson wrote. "Layoffs like this can have a more pronounced impact on marginalized communities, so we were particularly focused on ensuring our layoffs – while a business necessity today – were carried out through an Anti-Racist/Anti-Oppression lens."
Those who were laid-off will get "at least" 12 weeks of pay, and an additional week per year of service at the company. They will also receive the full value of Twilio's next stock vest.
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In this photo illustration, the Twilio logo is seen in the background of a silhouetted woman holding a mobile phone. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images / Getty Images)
"I am deeply sorry to see you all leave Twilio. You have all been part of building our company. You’ve been our teammates, partners, and friends. I’m grateful for your contributions to our customers and our business. And we owe it to you to help as much as we can," Lawson wrote in the message.
Lawson wrote in the announcement that the company is making the layoffs as it aims to be a profitable growth company.
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The Twilio website on a laptop arranged in Hastings on Hudson, New York, U.S., on Monday Feb. 7, 2022. (Tiffany Hagler-Geard/Bloomberg via Getty Images / Getty Images)
The company had 7,867 employees as of Dec. 31, 2021, according to its December annual report.
In the past year, Twilio shares have declined in value by over 78%.
FOX Business' Lucas Manfredi contributed to this report.