Company plans to lay off 5% of employees

Twilio Inc. CEO Jeff Lawson announced that the software provider would be laying off approximately 5% of its workforce due to underachievement in the growth of a targeted unit by activist investors. The news caused the company’s shares to fall by about 0.5%. The company expects restructuring charges ranging from $25 to $35 million. The…

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Morgan Stanley believes China’s equivalent of Spotify is not receiving enough recognition.

Tencent Music Entertainment Hits Record 100 Million Music Subscribers in China Tencent Music Entertainment (TME) is making significant strides in attracting more paying music subscribers in China. The company recently announced that its online music subscribers surpassed 100 million for the first time since TME listed in the U.S. in late 2018, during the July-to-September…

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