In the U.S., affected employees will receive a minimum of nearly five months of pay, health insurance, career resources, and other benefits to help with the transition. According to Benioff's note, those outside the U.S. will receive a similar level of support, with the company aligning with local employment laws in each country.
Transaction revenue fell 44% compared to the second quarter with fewer users active on the crypto exchange,In the June message, Armstrong said affected members would get a minimum of 14 weeks of severance plus an additional 2 weeks for every year of employment beyond 1 year. U.S. staff will also get four months of health insurance.
The company has also promised to pay the cash equivalent of six months of existing healthcare premiums or healthcare continuation. The San Francisco-based cloud communications specialist had 8,199 employees as of March 31, 2022, according to a"Twilio has grown at an astonishing rate over the past couple years. It was too fast, and without enough focus on our most important company priorities. I take responsibility for those decisions," Lawson said in his blog.