The cuts affected a total of 983 employees in California, its home state, according to three letters of notice that the company sent to regional authorities, which were obtained by CNBC.
Twilio is taking steps to be more efficient in its operations as it aims at adjusted operating profitability in 2023. Layoffs are a part of that effort.
"What a bank needs to do from a regulatory point of view and customer's point of view is that we need to protect our customers," said Onyx CEO Umar Farooq.
Block stock rose in extended trading after the payments company reported third-quarter earnings that beat Wall Street expectations for profit.
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