Reddit will lay off about 5% of its workforce, says agency

[ad_1]

Steve Huffman, chief executive of Reddit, also said that the company will freeze new vacancies. Reddit Unsplash/Reddit Reddit said on Tuesday it would lay off 90 employees, about 5% of the workforce, Reuters reported. According to the Wall Street Journal, a statement from the company’s Chief Executive, Steve Huffman, alerted employees to the need for the cut. Huffman said the company would also reduce its hiring for the rest of the year, according to the WSJ. Tech companies, including Meta (which owns Facebook, Instagram and WhatsApp), have been cutting jobs after aggressive hiring during the Covid-19 pandemic, as the sector braces for an economic slowdown. Earlier this week, Spotify also announced the layoff of 200 employees from its podcast division. According to the company, the cut represents 2% of its total workforce. ALSO READ: See if your iPhone is on the list of devices that will not receive an iOS 17 update Apple unveils Vision Pro, R$17,000 mixed reality glasses US Supreme Court refuses to hear lawsuit against Reddit for child pornography

[ad_2]

Source link