Reddit lays off staff and slows hiring

https://www.axios.com/pro/media-deals/2023/06/07/reddit-layoffs-hiring-ipo

by revscat • 3 years ago

28 6 3 years ago

axios.com

fullshark• 3 years ago

Source for this is a WSJ article from june 6, old news?

BaseballPhysics2• 3 years ago

Headline is accurate but could be misleading:

The layoffs affect about 90 workers, around 5% of its 2,000 employees. It will also shrink its hiring plans from 300 new hires down to about 100 for the rest of the year.

We're not talking massive cuts, here. They're basically keeping headcount flat for the FY, whereas their previous plan aimed for a 15% growth target.

This'll probably be painful for some hiring managers looking to increase capacity but otherwise it seems like a bit of a non-event.

ChainOfFools2• 3 years ago

Reddit had 2,000 employees? What on Earth were they all doing when all the content and all of the moderation is done entirely by their user base?

The fundamental structure of the product hasn't changed in a decade, except to add some superfluous UI garbage that everyone who knows better avoids by using the old UI anyway, or until recently the API.

BaseballPhysics2• 3 years ago

It's easy to forget how many pies they have their fingers in, between core Reddit (which includes all the user facing stuff plus mod tools, admin staff, etc), their own image and video hosting services, chat, and their mobile client, plus their ad business, which requires sales and marketing, ad ops, billing, etc. And that's just the obvious stuff off the top of my head. Then there's all the usual corporate infrastructure, i.e. management/admin, hr, finance, compliance, etc.

2k people is a lot of people but I wouldn't underestimate how much there is to their business.

Think of it this way: Elon cut Twitter to the bone and they still have 1500 staff, IIRC, and I'd argue Reddit is at least as complex.

ashconnor• 3 years ago

[June 2023]

Likely submitted because Axios are paying for this article to be advertised on Twitter.

Reddit lays off staff and slows hiring

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