That's not what taking responsibility means. You should acknowledge when your actions hurt people, even if you think it was the right thing to do. In this case,

That's not what taking responsibility means. You should acknowledge when your actions hurt people, even if you think it was the right thing to do. In this case, if the CEO thinks they made no mistakes, taking responsibility might involve: 1. Explicitly stating this was your decision, not just the inevitable consequences of the invisible hand of the market. Explaining that "we" in this post refers to the CEO and board of directors. 2. Explaining that you hired thousands in the last couple years with the knowledge that the company was not in a strong long-term position, and knew at the time that you might have to lay them off soon, but didn't tell them because you thought it would hurt your ability to hire and retain them. 3. Acknowledging out loud that layoffs hurt people, not being honest with your employees about their future hurts them, but you do not regret it and believe the size of Twilio's market cap is more important.