Twilio announces ~5% workforce reduction, $25-35M charges; reorganizes Flex and Segment

TWILIO INC

Eliminates ~5% of workforce; expects $25-$35M in restructuring charges, majority in Q4 2023.
Twilio Flex GTM consolidated into Communications segment; many Flex GTM roles eliminated.
Segment GTM roles cut due to underperformance; Segment remains core to CustomerAI.
Twilio Programmable Video to be end-of-life as standalone product; will partner with video leaders.
Reaffirms Q4 and FY 2023 guidance provided on Nov. 8, 2023.

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