I don't know about Twilio specifically but Covid is the biggest reason for most of the current layoff rounds. Kind of the opposite of the beginning of the pand

I don't know about Twilio specifically but Covid is the biggest reason for most of the current layoff rounds. Kind of the opposite of the beginning of the pandemic, when companies with in-person employees were laying off staff and moving to work-from-home and online companies like Zoom, Shopify, Teledoc, Twilio began booming. But now many of those brand new customers are returning to their old ways. These internet companies "over hired" in the sense that they got a massive unexpected influx new demand they needed to scale out for, and no clue how long this would last. Will it fade out next month or be a decade long pandemic? Many companies also expected higher customer retention after covid than they're actually keeping. If you look at trendlines for online shopping, work from home, etc related industries covid caused an instant jump in their growth equivalent to about 5 years on the trend line. Rather than staying "in the future", demand is declining back towards a trend line that otherwise ignores covid.