Twilio to Lay Off 11% of its Workforce 
<p><a href='https://financialmodelingprep.com/financial-summary/TWLO'>Twilio Inc. (NYSE:TWLO)</a> announced yesterday that it will lay off 11% of its workforce, representing the largest layoff in enterprise software year-to-date. </p>
<p>Analysts at RBC Capital believe this could be a warning sign of future layoffs to come elsewhere in software, particularly those that (1) benefited + invested heavily from the COVID boom resulting in similar levels of "bloat" seen in Twilio; and (2) are more macro- sensitive.</p>
<p>While the analysts appreciate the clearer visibility to 2023 profitability, they noted they came away incrementally negative on future growth prospects (and over 30% growth through 2024 now looks off the table). </p>
<p>Net-net, the analysts are more positive on the company following the announcement but believe share performance is under-discounting the read-throughs to near-term growth.</p>

NYSE:TWLO