Twilio workforce reduction a ‘hard but rational’ decision, says Macquarie

Macquarie tells investors in a research note that Twilio’s decision to scale back investments in its Data & Applications business and reduce its workforce by 5% is a “hard but rational” decision as it continues its cost-efficiency initiatives. The firm, which made no change to its Neutral rating or $65 price target, believes that a sale of Data & Applications is unlikely as CEO Jeff Lawson described the segment as “core” to CustomerAI.