The economy is going through a tough time due to recession, because of slow growth tech companies are cutting wherever they can to keep themselves afloat.
Recently, Twilio a service provider to Uber announced it will cut off 11% of its staff members which is about 800 as it tries to cut costs.
In a message to the staff, the company’s CEO Jeff Lawson said the layoffs are wise and necessary to save the company. He also said he blamed the company for its rapid growth over the years and lack of focus.
“I take responsibility for those decisions, as well as the difficult decision to do this layoff,” Lawson wrote in a letter sent internally and published on Twilio’s blog.
“Twilio has always been a growth company. And as you know, we’re committed to being a profitable growth company. At our scale, being profitable will make us stronger. We ultimately found that some investments no longer make sense and identified areas where we can be more efficient.”
Lawson continued, “Today’s layoffs are about aligning our investments more squarely with our priorities, as well as running our company more efficiently overall.”
“No doubt, it will be a hard few months as we change the shape of our company for the opportunity ahead.”
