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Twilio to lay off 11% of workforce

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Twilio is planning to lay off roughly 11% of its workforce.

The cloud communications software builder had 7,867 employees at the end of 2021.

"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," CEO Jeff Lawson said. "I take responsibility for those decisions, as well as the difficult decision to do this layoff."

Read more from CNBC.

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