Reddit reduces staff in restructure

Reddit said on Tuesday it is laying off about 5% of its workforce, or 90 employees, joining a list of technology companies that have been cutting jobs across corporate America. Tech companies including Meta Platforms have been slashing jobs after aggressively hiring during the pandemic, as the industry braces for an economic downturn. Reddit, which was spun off from magazine conglomerate Conde Nast in 2011, saw a recent surge in appeal due to the popularity of WallStreetBets and other forums on its platform that have become a venue for retail investors to speculate on stocks. Read more on Reuters - https://lnkd.in/g3tMj-Yi #reddit #layoffs #layoffs2023 #tech #technology #jobs #hiring

Today I was laid off. It's disappointing but I'm thankful for the experience I got working at Reddit, Inc. I'm probably going to take a few weeks to rest, but I'll be #opentowork soon! So if you think I'd be a good fit at your place of work, please let me know and I'll apply!

WSJ scoop: Reddit is laying off about 5% of its workforce and slowing hiring, moves its CEO says will help social-media company focus on priorties and achieve its goal of breaking even next year. If this sounds familiar, it's because so many tech companies have also gone down this path in recent months. Reddit filed paperwork to go public in 2021 but it hasn't followed through on those plans. Perhaps it's waiting for that break-even moment. To that end, the company will soon start charging some developers for access to its API, potentially making it a little less dependent on ad revenue, its main source of revenue. PS: Remember to follow @WSJ PSS: Learn about Evan Gershkovich, my colleague who has been unjustly detained in Russia,?https://lnkd.in/ePV-sTcQ