Twilio CEO Jeff Lawson is laying off more than 11 percent of its employees because the cloud communications company is growing “too fast”.
Lawson said that the layoff is the last thing he wanted to do, but it was “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 is remaining at the company.
The cuts will impact Twilio teams in research and development, go-to-market and the company’s administrative and general departments.
Twilio said it expects that it will incur approximately $70 million to $90 million in charges in connection with the restructuring plan, “consisting of cash expenditures for employee transition, notice period and severance payments, employee benefits, and related facilitation costs as well as non-cash expenditures related to vesting of share-based awards”.
Twilio has nearly doubled its employee headcount over the past several years, while also acquiring several companies.
