Shares of Twilio Inc.
rallied 2.8% in morning trading Monday, after the communications software company disclosed that it will lay off 17% of its employees as part of a plan to cut costs, streamline its business and become more efficient. Based on 7,867 employees as of the end of 2021, according to the company’s latest annual report, that would imply more than 1,300 employees will be laid off. The company also said it was forming two business units, Twilio Communications and Twilio Data & Applications.
rallied 2.8% in morning trading Monday, after the communications software company disclosed that it will lay off 17% of its employees as part of a plan to cut costs, streamline its business and become more efficient. Based on 7,867 employees as of the end of 2021, according to the company’s latest annual report, that would imply more than 1,300 employees will be laid off. The company also said it was forming two business units, Twilio Communications and Twilio Data & Applications.