Twilio is San Francisco base company providing cloud communications platform.
The companies market cap is 13.5 billion The stock price is 73% less compared to last year
As a part of restructuring the company has announced to layoff about 10 percent of its workforce.
Restructuring will reduce operating cost and improve overall efficiencies of the company.
The companies will layoff about 800 to 900 from the total count of 8000.
Employees affected will receive 12 weeks of pay, plus 1 week for every year of service in addition to the value of Twilio next stock vest.
Layoff are signaling difficult days ahead.
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