by - Twilio CEO Jeff Lawson scheduled a meeting with other top executives shortly before the Super Bowl.
- The meeting and other developments fueled employee concern about a possible reorganization and further layoffs.
- Lawson dabbled in politics, recently hosting Barack Obama, The Information reported.
Twilio co-founder and CEO Jeff Lawson is scheduled for an unusual meeting with other top executives at the tech company about an hour before the start of the Super Bowl on Sunday. The recently organized meeting had employees anticipating major changes, including a possible reorganization and perhaps more layoffs.
According to a screenshot of the internal calendar viewed by Insider, Lawson will be joined at 2 pm San Francisco time by Twilio’s President of Revenue Elena Donio, Chief Operating Officer Khozema Shipchandler and Chief People Officer Christy Lake. The Super Bowl starts at 3:30 pm local time.
There hasn’t been a similar meeting on the executive’s calendar in the last six months, at least according to an official, who asked not to be identified as he was dealing with private matters. The company is set to report fourth-quarter and full-year results on Wednesday, Feb. 15. know the reason.
Screenshots from an internal blind group for users with a Twilio email address show anxious comments from employees. “Can’t wait another weekend,” wrote one employee. “Get us out of this misery, please.”
“I don’t know how long I can take this. Twilio, I’m begging you. Try to resolve this resignation rumour. If true, then put it to rest. If not true, say something,” another employee wrote. A Twilio spokesperson declined to comment.
Lawson co-founded Twilio in 2008. The company provides messaging technology for businesses to communicate with customers. Twilio’s business boomed during the pandemic, as demand for its services soared and it hired thousands of new employees. The stock jumped, making Lawson a billionaire on paper.
Now that the COVID-19 restrictions have eased, Twilio’s fortunes have waned and investors are putting pressure on the company to cut costs and become profitable. The stock has dropped from over $400 to around $60 now. In September, Twilio announced layoffs of 11% of its workforce.
Lawson stoked fears of sales force cuts in December after suggesting at a Barclays technology conference that the company had increased sales costs in recent years and was now looking to become “more efficient” and focus its energy on “led growth”. for products”.
“We’re probably putting sales resources where they might not be needed to get growth, because I think we see a lot of demand for the product,” Lawson said.
Executive changes possible, with Lawson dangling into politics
Meanwhile, a recent securities filing showing that Twilio has agreed to give a $2.5 million cash bonus to Chief Product Officer Eyal Manor has employees speculating about changes to the executive team. The lawsuit said Manor was to receive the huge bonus, subject to his “continued employment with the company through February 24, 2023.” Less than two weeks to go.
Amid all this change, Lawson developed other interests besides Twilio. He has become active in politics, donating heavily to Democratic causes and, in September, hosting Barack Obama as his home along with venture capitalist Ron Conway and LinkedIn co-founder Reid Hoffman, according to a report by The Information.
“It’s really interesting that a lot of business leaders say, ‘I’m going to stay out of politics.’ Or, ‘I can operate my business with any responsible (party).’ Well, I don’t think they really know what it’s like to try to run a successful business in a country that’s not a democracy,” Lawson told The Information.
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