San Francisco, Dec 5 (IANS): Cloud communications firm Twilio has laid off hundreds of employees as it announced a 5 per cent cut in its workforce.
The company had laid off nearly 11 per cent of its employees in September last year and in February this year, it sacked another 17 per cent of its workforce.
More than a year ago, Twilio had 7,800 employees.
According to its most recent earnings release, Twilio has around 5,900 employees.
With today's job cuts, around 300 people will lose their jobs in the near future, reports TechCrunch.
Recently, the company expanded its product portfolio with large-scale acquisitions.
"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," Twilio CEO Jeff Lawson wrote in an email to all employees.
"We've made the hard decision to eliminate some of our Segment GTM roles – right sizing the investment for the results we're seeing," Lawson added.
Earlier this year, Twilio said it will reorganise its internal organisation and create two business units -- Twilio Communications and Twilio Data & Applications.
"We have to spend less, streamline, and become more efficient. To do that, we're forming two business units: Twilio Communications and Twilio Data & Applications," Lawson had said.
Twilio also planned to close some of its offices this year.