Twilio is laying of another 1500 people. What is going wrong with Twilio? https://www.cnbc.com/2023/02/13/twilio-layoffs-1500-employees-17percent-of-workforce.html #layoff
Why do they need so many people for their simple service
For expanding their product line and for improving managerial vanity metrics
Segment is pretty cool ime
Got to get that 2% stock bump!
If you read the press report it seems like they are getting ready to spin or sell off part of the company most likely communication side? So expect more layoffs when that happens.
I'm guessing you're not a research analyst, because again, you don't have the full picture. Where do you think all the revenue comes from? It comes from it's comms business. Flex, Segment and Engage have barely gotten off the ground.
Don’t know but that’s what one of Twilio stock analyst was saying and reason a finance guy is running the low margin business. Wallstreet wants high margin and growth so they focus the company on software and spin or sell off the latter. Idk enough about it to say he is right or wrong.
If you buy overvalued companies, you are doomed, twillio spent lot of money buying these small companies for billions
The market goes through phases that reward “growth” via costly acquisitions, then has a habit of punishing companies when suddenly deciding to favor profitability. Twilio expanded their portfolio to shore up revenue streams. Microsoft has had a habit of flat out horrid investments over the years (with the occasional winner). Didn’t doom the company, but didn’t help either. Yammer and Nokia ring any bells for ya? Twilio doesn’t have a track record of bad acquisitions as far as I can tell. Whether they overpaid for any of them is debatable.
Huh!! Comparing Microsoft with Twillio? Looks at the balance sheet even during downturn.
Ex twilian... Super sad, but saw this coming and jumped ship a couple years ago. Imo the blame is 100% on Jeff. He should step down if he isn't forced out soon. Even when I was there people were baffled by over hiring and rampant disregard for writing on the wall that something was going to have to give in the market soon. I know for a fact it was his guidance to completely ignore all this. Just shouldn't be at the helm.
they were supposed to become profitable by 2024 and they are nowhere closer to that. People who joined in last 1-2 years would have already lost most of their rsu value
That's not true. It will be nonGAAP profitable this year easily.
Word vomit, 30% staff gone is sbc saved. The intent of such mass layoff is to show profitability. Apple do your research or please suck Tim's apple, rest and vest please
Who got affected the most? Recruiting, middle managers?
mostly middle management and sales
There were announcements for several VPs that are leaving at the end of March.
Which teams got impacted?
Mostly Communications, the messaging products.
That's surprising. Isn't that their core business?
Severance?
12wks plus a wk for every year.
For the US: 12weeks plus a week for every year on top of the 2 months remaining on payroll (5 months total minimum). Also Feb RSUs.
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Damn should I be worried about Authy
No
Moved to Microsoft authenticator.. You get online backups like Authy but from a company unlikely to cut the product anytime soon.