Twilio to lay off ~11% of workforce; expects $70-90M restructuring charge

TWILIO INC

Workforce reduction of approximately 11%; charges estimated at $70-90M with $55-70M cash outlays.
Restructuring substantially complete by Q4 2022; majority of charges expected in Q3 2022.
Reaffirms Q3 FY22 guidance: revenue $965-975M, non-GAAP loss from operations $60-70M, non-GAAP EPS loss $0.37-0.43.
Charges excluded from non-GAAP results; plan aims to cut costs and shift selling capacity toward software.
CEO Jeff Lawson detailed layoff rationale in a company letter; impacted employees receive at least 12 weeks pay plus stock vest.

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