Twilio round 2 of layoffs? "Twilio to cut costs by rightsizing the workforce"
Seems like a lot of companies are hopping on the bandwagon since Argo AI, Twitter, Lyft and Stripe just had significant layoffs. Stock has also dropped by 45% so perhaps there's pressure to cut further. https://finance.yahoo.com/video/twilio-cut-costs-rightsizing-workforce-195928519.html TC: 575K, 13 YOE + MS
Can any twilio employee confirm?
Confirm what? TWLO going down hill. All these cloud companies grew exponentially during the pandemic and started trading at 30x the value of their actual revenue. Reached cloud nine. and now that normalcy is coming back, high-growth stock coming back to the ground. There is nothing wrong with the Twilio business and the products but having said that while the company has a revenue of around 4B, it's silly to trade TWLO at 30 B or 40 B. Now when they committed investors about profitability in 2023 they didn't see the macro-economy coming so they will still want to show profitability which is not very far, to be honest, but probably another round of layoffs will guarantee profitability.
It's very common for tech company to trade at p/s ratio of 10, as long as growth is above that multiple. But the problem with Twilio is they projected a YOY growth of 30% and reduced it to 18% now, which usually is not acceptable by wall street. And also given they are in this business from long expectations are they should have been profitable by now, with positive cash flow, but they are losing money continuously. Atlassian makes only 2.8 bn revenue even after today's fall they are trading at 31bn, because they are profitable. So once Twilio becomes profitable they can still grow. So to become profitable the easy path is cost cutting by reducing workforce.
Did anyone actually watch the video? COO clearly says they are not considering additional layoffs currently. And they had to do the previous layoffs becuase they got ahead of themselves in hiring.
Yeah this is a clickbait title that yahoo ended up changing, it’s just cached in blind
I am one of the employees that was laid off by Twilio. Jeff said the same thing in every all hands saying he didn’t foresee layoffs. Then one morning, bam, laid off. Wouldn’t trust anything they say.
How was your severance?
Didn’t they give a really good severance and runway for folks on a visa? What role were you in, if you don’t mind sharing?
It's coming soon. Managers are tracking vacations. My VP told to aggressively rate people as well. It's going to get worse.
aggressively rate?
What does it mean to track vacations? Does Twilio have unlimited PTO?
Not many places to hide as most companies have hiring freezes.