12/4/2023, 5:05 PM (Source: TeleTrader)
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Chart for: Twilio Inc

Twilio to lay off around 5% of its workforce

Customer data platform Twilio Inc. announced on Monday its intention to lay off roughly 5% of its workforce citing underachievement in the growth of the company's Data & Applications unit.

"Last year, we made the decision to invest, ahead of growth, in go-to-market for Segment. Unfortunately, that bet hasn't led to the growth outcome we'd hoped for. As a result, we're simply spending too much. So we've made the hard decision to eliminate some of our Segment GTM roles," the enterprise's chief executive officer, Jeff Lawson, said in a letter sent to the workers. The company is also shutting down its Programmable Video product as part of the plan.

Earlier this year, the company announced a 17% reduction in its workers.

Baha Breaking News (BBN) / RR