Twilio to lay off 11% of staff; CEO says company grew 'too fast'

San Francisco-based customer engagement platform Twilio announced on Wednesday it will lay off 11% of its workforce (about 800-900 employees) as part of a major restructuring plan. Calling the layoffs "wise and necessary", CEO Jeff Lawson said Twilio's growth has been "too fast" and without "enough focus" on key priorities. "We...found that some investments no longer make sense," he added.