Twilio To Cut 11% of Staff After Growing 'Too Fast' (bloomberg.com) 11
Twilio, a maker of customer communication and marketing software, said it will cut about 11% of jobs and restructure the company in a push for profitability after a period of rapid expansion. From a report: Sales strategy, research, and administrative staff will be most affected by the workforce reductions, Chief Executive Officer Jeff Lawson wrote in a letter to employees Wednesday. The shares rose 0.5% in New York. "Twilio has grown at an astonishing rate over the past couple years. It was too fast," Lawson wrote. "At our scale, being profitable will make us stronger." San Francisco-based Twilio, best known for its direct-to-consumer text messaging services, is betting on an expansion into the wider market for customer service tools in a bid to compete more forcefully with Salesforce and Adobe. Recent acquisitions have included identity verifier Boku Identity, toll-free messaging service Zipwhip and customer data provider Segment. Its workforce has jumped over the past year, growing to 8,510 employees at the end of June from 6,334 employees a year earlier.
The Reaction of Greed. (Score:4, Insightful)
So, 11% of the innocent plebs will be fired because they grew too fast.
Not long ago, Twilio's stock price went from $89 to $392 in eleven months.
Ain't it rather FUCKED how exactly no one with stock options felt their profits grew too fast...
spam central (Score:2)
Twilio is spam central, getting them to address those issues is next to impossible. I guess when your golden goose is fraud then you mostly ignore the fraud part.
Eyeroll (Score:2)
"At our scale, being profitable will make us stronger."
As opposed to some other scale where wrapping dollar bills around everything you sell constitutes strength?
Re: (Score:3)
Which is exactly how it was explained decades ago in a Looney Tunes cartoon [youtube.com] (except for the inceased wages part).
Re: (Score:2)
Great Jehoshaphat!
Meanwhile, Twilio raises rates... (Score:2)
Twilio was already the most expensive SMS/MMS platform. They just recently announced they were raising their per-message segment rates. Twilio is also one of the few SMS/MMS 10DLC A2P providers that charge for both outbound AND inbound messaging. The "charge money for inbound SMS/MMS" part is ripe for abuse by bad actors but it also effectively doubles the cost of messaging. Twilio already churns out profits every quarter that would make any prostitute blush. The only reason to use Twilio is that they
Let's see who gets fired (Score:2)
"Lawson, however, informed his staff that Twilio is devoted to operating as an âoeanti-racistâ company and that the layoffs were executed through an âoeAnti-Racist/Anti-Oppression lens,â because âoelayoffs like this can have a more pronounced impact on marginalized communities.â"
Orly?