Dec 4 Reuters Cloud communications platform Twilio Inc said on Monday it will lay off about 5, or 295, of its total workforce by the first quarter of 2024 to achieve profitable growth.

The company expects to incur about 25 million to 35 million associated with the restructuring in the last three months of 2023.

Tech companies have begun reducing their workforce again after a round of layoffs in the beginning of the year, with announcements coming from Spotify to Microsoftowned LinkedIn.

Earlier this year, Twilio cut 17 of its staff and closed some of its offices.

The San Franciscobased cloud service provider also reaffirmed its guidance for the fourth quarter and fiscal year ending December 31, 2023.

Reporting by Tanya Jain in Bengaluru; Editing by Krishna Chandra Eluri

Source Reuters