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Follow us on FacebookReddit is reportedly cutting 5 percent of its workforce
@ 2023/06/08Reddit is going through a restructuring, and according to an email by company chief Steve Huffman as seen by The Wall Street Journal, one of the moves it's going to make is laying off 90 employees. That's around 5 percent of the company's current workforce with 2,000 employees.
In addition, Reddit is slowing down hiring this year and reducing the intake of new workers to 100 from the 300 personnel it had originally planned. Apparently, the social network wants to focus on achieving its biggest goals, such as breaking even next year. Huffman reportedly wrote in the email that Reddit has "had a solid first half of the year," and that this restructuring will position it "to carry that momentum into the second half and beyond."
In addition, Reddit is slowing down hiring this year and reducing the intake of new workers to 100 from the 300 personnel it had originally planned. Apparently, the social network wants to focus on achieving its biggest goals, such as breaking even next year. Huffman reportedly wrote in the email that Reddit has "had a solid first half of the year," and that this restructuring will position it "to carry that momentum into the second half and beyond."
