SAN FRANCISCO (KRON) — San Francisco-based communications company Twilio announced its plans to lay off about 17 percent of its workforce Monday, according to an email sent to Twilio employees and published on its corporate blog.

CEO Jeff Lawson cited a major restructuring of the company as the reason for the staffing cut.

“We have to spend less, streamline, and become more efficient,” Lawson said in the letter. And today, I’m unfortunately bearing the news that we’re parting ways with approximately 17% of our team.”

Lawson said the company will be divided into two units: Twilio Communications and Twilio Data & Applications. The goal is that both units will be able to move independently toward their own goals as well as complement each other, according to the letter.

This announcement comes just months after a decision to lay off about 11 percent of its workforce in September 2022. Twilio is just one more tech company announcing layoffs as the industry corrects post-pandemic.

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As of Feb. 13, Twilio’s stock price has fallen about 67 percent year over year.

“I know many of you who are impacted. I’ve worked alongside you, and I’ve seen the amazing work you’ve done,” Lawson said to the employees impacted by the layoffs. “Thank you – you’re a permanent part of Twilio and I’m sorry that we’re parting ways like this.”