Openly admitting that you base decisions to layoff/retain employees on race (in whole or part)... this seems ethically + legally dubious. Do publicly traded companies have a fiduciary responsibility **not to willingly set themselves on fire**?.
We’ve made the extremely difficult decision to restructure and reduce Twilio’s workforce by approximately 11% – teammates and friends who helped build Twilio.
Im not going to sugarcoat things. A layoff is the last thing we want to do, but I believe its wise and necessary. Twilio has grown at an astonishing rate over the past couple years. It was too fast, and without enough focus on our most important company priorities. I take responsibility for those decisions, as well as the difficult decision to do this layoff.