Bird raises $450M in debt, headcount cut from 1,000 peak to 120

Bird , the business communications platform once seen as a European rival to the US's Twilio, has raised $450m in debt financing, as it underscored its repositioning as an AI business, a shift which has seen it drastically cut headcount to 120 from its claimed peak of 1,000 employees. The debt financing round was led by JP Morgan, Capital One and Citi, comprising a $400 million term loan and $50 million revolving credit facility. Seven banks in total were involved in the financing.