Twilio, the cloud communications platform, has disclosed plans to trim approximately 5 percent of its total workforce, amounting to 295 positions, by the first quarter of 2024. The move comes as part of the company’s strategy to pave the way for sustainable and profitable growth.
Anticipating a restructuring charge in the range of $25 million to $35 million in the final quarter of 2023, Twilio aims to streamline its operations and optimize resources.
This announcement echoes a trend across the tech industry where companies are readjusting their workforce. Recent layoffs have been reported from prominent names such as Spotify and LinkedIn, which is owned by Microsoft.
Twilio had previously implemented a reduction, cutting 17 percent of its workforce earlier in the year and closing several office locations, marking a concerted effort to realign its organizational structure and focus.
Despite these adjustments, the San Francisco-headquartered cloud service provider reasserted its guidance for the fourth quarter and fiscal year concluding on December 31, 2023. This reaffirmation underscores the company’s commitment to navigating these changes while maintaining its operational outlook and trajectory in the market.